Tweeter amends loan to get $13 million of new term debt, increase revolver availability

By Sara Rosenberg

New York, July 26 - Tweeter Home Entertainment Group Inc. amended its credit facility, providing for an additional $13 million in term loans and an increase in revolver availability of $2.5 million resulting from changes in required reserves, according to a company news release.

Furthermore, under the amendment, revolver pricing was reduced by 25 basis points and the unused commitment fee was also reduced.

The non-amortizing term loan consists of $5 million from Bank of America and $8 million from Back Bay Capital Funding LLC.

Bank of America is the lead bank on the existing credit facility.

The amendment is effective as of last Friday.

Tweeter is a Canton, Mass.-based consumer electronics retailer.

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