RadioShack amends and restates to get $50 million last-out term loan

By Sara Rosenberg

New York, Aug. 13 - RadioShack Corp. amended and restated its credit facility, providing for a $50 million last-out term loan tranche, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Pricing on the term loan is Libor plus 450 basis points and it has a $25 million accordion feature.

Proceeds from the term loan will be used for general corporate purposes.

The company's credit facility also provides for a $450 million ABL revolver due Jan. 4, 2016, with size, maturity and pricing remaining in line with the previous revolver.

Pricing on the revolver can range from Libor plus 225 bps to 275 bps based on average availability. There is also an unused fee that can range from 37.5 bps to 50 bps based on average unused commitments.

The amendment and restatement was completed on Aug. 8.

Bank of America is the administrative agent on the deal.

RadioShack is a Fort Worth, Texas-based retailer of consumer electronic goods and services.

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