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| CONN > SEC Filings for CONN > Form 8-K on 20-Aug-2008 | All Recent SEC Filings |
20-Aug-2008
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
Effective August 14, 2008, we entered a LOAN AND SECURITY AGREEMENT with certain financial institutions as parties to the Agreement from time to time referred to as Lenders, BANK OF AMERICA, N.A., a national banking association, as Administrative Agent and Joint Book Runner for the Lenders, referred to as Agent, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Syndication Agent and Joint Book Runner for the Lenders, and CAPITAL ONE, N.A., as Co-Documentation Agent for the Lenders.
This Agreement provides a $210 million revolving loan facility, referred to as the ABL Facility, with an accordion feature allowing for future expansion of the committed amount up to $350 million, that provides funding based on a borrowing base calculation that includes accounts receivable and inventory. The borrowing base is calculated as eligible inventory and receivables multiplied by specified funding percentages, less certain reserves specified in the agreement. The ABL Facility replaces our existing $100 million revolving credit facility, which was terminated upon the closing of the ABL Facility. The ABL Facility matures in August 2011 and bears interest at LIBOR plus a spread ranging from 225 basis points to 275 basis points, based on a fixed charge coverage ratio, on the principal outstanding from time to time. All of our receivables not sold under our asset backed securitization facility, referred to as our ABS Facility, together with our inventory and other assets, will be pledged to the Lenders under the ABL Facility.
Exhibit 99.1 Loan and Security Agreement (without Exhibits)
Exhibit 99.2 Supplement No. 1 to Amended and Restated Series
2002-A Supplement
Exhibit 99.3 Second Amended and Restated Note Purchase
Agreement
Exhibit 99.4 Fourth Supplemental Indenture
Exhibit 99.5 Intercreditor Agreement
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