hhgregg plans new $200 million credit facility with IPO

By Sara Rosenberg

New York, April 18 - hhgregg, Inc. is planning on getting a new $200 million credit facility in connection with its initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission Wednesday.

The facility consists of a $100 million five-year revolver and a $100 million six-year term loan B.

Proceeds from the facility, along with IPO proceeds, will be used to refinance the company's existing $75 million revolver, fund a tender offer for its outstanding senior notes and redeem its outstanding junior notes.

Credit Suisse and Lehman are the joint bookrunners on the IPO.

hgregg is an Indianapolis-based specialty retailer of video products, brand name appliances, audio products and accessories.

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