PLCE - The Children's Place expands revolving credit facility from $350M to $445M
2023-06-05 17:27:30 ET
- The Children's Place ( NASDAQ: PLCE ) on Monday said it had expanded its revolving credit facility from $350M to $445M.
- PLCE stock was unchanged after hours. It earlier closed -1.7% at $15.51.
- "The fifth amendment to the Company’s credit agreement also replaces LIBOR as the interest rate benchmark with the SOFR interest rate benchmark, and updates the interest rates to reflect current market terms," PLCE said in a statement .
- "We are extremely pleased to welcome PNC Bank as a new joint lead arranger, who is committing an additional $95M toward our revolving credit facility and we are grateful for the support provided by our current banking group," PLCE CFO Sheamus Toal said.
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The Children's Place expands revolving credit facility from $350M to $445M