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Camping World amends credit agreement

Camping World amends credit agreement

LINCOLNSHIRE, Ill. — Camping World Holdings Inc. has announced that CWGS Group LLC, an indirect subsidiary of the company, has entered into a third amendment to its credit agreement with Goldman Sachs Bank USA, as administrative agent, and the other parties thereto (the “Third Amendment”).

The Third Amendment, among other things, (i) reduces the interest rate by 25 basis points with a reduction in the applicable interest margin to 1.75 percent from 2 percent per annum, in the case of base rate loans, and to 2.75 percent from 3 percent per annum, in the case of LIBOR loans on April 6, 2018, subject to customary closing conditions, and (ii) increases the borrower’s term loan facility by $250 million to a principal amount of $1.19 billion outstanding as of March 28.

The proceeds from the incremental add-on to the credit agreement are expected to be used to fund future dealership acquisitions and expand the company’s retail platform, as well as to pay related fees and expenses associated with the Third Amendment.

SOURCE Camping World Holdings Inc. press release

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About Ronnie Garrett

Ronnie Garrett is the editor in chief of RV Daily Report. She's been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and now the RV industry. She's not a stranger to RVs, however. She grew up camping, and still camps as many weekends as she can every year.

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