York, Pa. – Bon-Ton Stores has entered into an amendment to the company’s existing $675 million asset-based revolving credit facility that was scheduled to mature in March 2016. Bank of America, N.A. continues to serve as Agent on the credit facility.
The second amendment extends the maturity date of the commitments under the credit facility to Dec. 12, 2018. The amendment provides interest rate reductions and generally favorable revisions regarding the facility requirements.
“We are very pleased with the enhancements made to our facility, which we believe position us well for the future,” said Keith Plowman, executive VP and CFO. “We appreciate the strong level of support from our lending group of bank institutions.”