Handleman amends loan, reducing revolver size

By Sara Rosenberg

New York, Aug. 6 - Handleman Co. amended its credit facility on Wednesday, reducing the revolver size to $20 million, according to an 8-K filed with the Securities and Exchange Commission.

Also under the amendment, the revolver is scheduled to reduce to $15 million on Aug. 30 and to $10 million on Oct. 4.

Silver Point Finance is the administrative agent on the deal.

Handleman is a Troy, Mich.-based category manager and distributor of prerecorded music titles to retailers.

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