ePlus amendment increases credit facility to $425 million

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – ePlus inc. subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and Slait Consulting, LLC amended their credit agreement with Wells Fargo Commercial Distribution Finance, LLC as administrative agent on Oct. 13 to provide for an enlarged $425 million floorplan facility.

Previously, the size of the facility was $375 million, according to a news release.

There is a sublimit for a $150 million revolving credit facility, which was also increased by $50 million.

Additionally, all of the loans were converted to be based on term SOFR rather than Libor.

“The increase and adjustments to our credit facility will allow us to continue to facilitate our customers’ digital transformation with our leading security, cloud, data center, networking, collaboration solutions and services,” Elaine Marion, chief financial officer of ePlus, said in the release.

Herndon, Va.-based ePlus is a technology solutions provider.

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