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HD Supply extends $1.5 billion ABL facility to 2022, cuts pricing
By Wendy Van Sickle
Columbus, Ohio, April 7 – HD Supply Holdings, Inc. subsidiary HD Supply, Inc. amended its $1.5 billion ABL credit agreement with Wells Fargo Bank NA as administrative agent on Wednesday to extend its maturity to April 5, 2022, according to an 8-K filing with the Securities and Exchange Commission.
The amendment also reduced the facility’s applicable margin and commitment fees, the filing noted, although it did not giving specific pricing details.
Also, the amendment allows the company to reallocate commitments between U.S. commitments and Canadian commitments and releases all mortgaged real property under the ABL facility that is in a special flood hazard area.
The credit agreement was originally entered on April 12, 2012.
HD Supply is an industrial distributor based in Atlanta.
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