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RadioShack plans $835 million credit facility for refinancing
By Sara Rosenberg
New York, Oct. 22 - RadioShack Corp. has received a commitment for a new $835 million credit facility, according to a news release.
GE Capital Markets, CIT Corporate Finance, RBS Citizens and Salus Capital Partners are leading the financing.
The facility consists of a $585 million senior secured ABL revolver and a $250 million secured term loan.
Proceeds will be used to refinance the company's existing $450 million ABL credit facility, $75 million of term loans and $100 million second lien term loan.
Closing is expected in the fourth quarter.
RadioShack is a Fort Worth-based retailer of mobile technology products and services and products related to personal and home technology and power supply needs.
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