Trans World Entertainment closes $75 million revolver via Wells Fargo

By Wendy Van Sickle

Columbus, Ohio, Jan. 19 – Trans World Entertainment Corp. entered into a second amended and restated credit agreement on Tuesday providing for a $75 million five-year revolving credit facility with Wells Fargo Bank NA as lead arranger, bookrunner, administrative agent and documentation agent, according to an 8-K filed with the Securities and Exchange Commission.

Commitments are subject to borrowing base and availability restrictions. There are sublimits of $7.5 million apiece for letters of credit and swingline loans.

Pricing ranges from Libor plus 175 basis points to 200 bps, based on availability.

There is a fee of 25 bps for unused commitments.

The credit agreement replaces the company’s credit agreement dated May 4, 2012.

Trans World is an Albany, N.Y.-based retailer of entertainment software products.

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