Camping World Holdings has announced that CWGS Group has entered into a third amendment to its credit agreement with Goldman Sachs Bank USA. The third amendment 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.
It also increases Camping World’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.
