Jo-Ann Stores amends revolver, extending maturity

By Sara Rosenberg

New York, Sept. 10 -Jo-Ann Stores Inc. amended its $300 million revolving credit facility, extending the maturity to Sept. 5, 2013, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Pricing on the amended revolver can range from Libor plus 175 basis points to 225 bps depending on excess availability.

There is a $100 million accordion feature.

The amendment was completed on Sept. 5.

Bank of America is the lead bank on the deal.

Jo-Ann is a Hudson, Ohio-based specialty retailer of crafts.

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