Tweet

Circuit City's Credit Line Raised To $1.3B

By TWICE Staff -- TWICE, 2/6/2008

Richmond, Va. — Circuit City’s chief lenders have raised the chain’s credit limit from $500 million to $1.3 billion under terms of a new loan agreement that went into effect Jan. 31.

The deal, brokered by Bank of America, Banc of America Securities, Wells Fargo, JPMorgan Chase, GE Capital and Wachovia, replaces an earlier credit agreement and extends the expiration date from 2009 to 2013.

The new contract sets a $50 million limit on borrowing by Circuit City’s InterTAN Canadian subsidiary, and allows the chain to request an additional $300 million over the initial $1.3 billion credit line. The loan will continue to be secured by the retailer’s inventory and credit card receivables.

Tweet

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author

No related content found.

Also by this author

• SED Reports Higher Fiscal Q2 Profits

• Apple Petitioned On Working Conditions

• McCartney To Star In JBL Grammy Ad, Campaign

• Logitech Intros Touch Mouse M600

• Stampede To Distribute Sony EVI Video Cameras

» MORE

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Shopatron

  

  Shopatron is the world's leading provider of global eCommerce for consumer goods. With Shopatron, orders placed on branded websites are offered to a managed network of global partners for fulfillment, typically for assignment to local retailers. Local fulfillment translates to..more

---

Most Recent Resources

• Bicycles & eCommerce
• Benchmark Study of Shopatron Retailers
• Web 2.0: Engaging Customer Passion
• A Branded Manufacturers Guide to Holiday eCommerce Success
• Maximise Content Delivery Performance