RTW Retailwinds extends $75 million revolver to 2024, trims pricing

By Wendy Van Sickle

Columbus, Ohio, Oct. 30 – RTW Retailwinds, Inc. and several wholly owned subsidiaries entered an amendment to their credit facility on Oct. 24 that extends the term of their revolver to Oct. 24, 2024 and reduces pricing, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement continues to provide for a $75 million commitment with an option to expand commitments up to a total of $100 million or decrease commitments to as low as $60 million. There is a $45 million sublimit for letter of credit.

Borrowings bear interest Libor plus a margin of 125 basis points to 150 bps, a reduction of 25 bps from the previous facility.

The unused commitment fee has been reduced to 20 bps.

Wells Fargo Bank, NA is the administrative agent.

The company is a New York-based retailer of women’s apparel.

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