Lazydays Holdings secures expanded $369 million three-year credit facility

By William Gullotti

Buffalo, N.Y., July 15 – Lazydays Holdings, Inc. entered into an expanded three-year $369 million credit facility led by M&T Bank, according to a news release Thursday.

The credit facility, signed July 14, increases the company’s floorplan capacity to $327 million from $175 million and expands its existing revolver to $25 million from $5 million. The company’s existing $11.3 million term loan and $5.8 million of mortgage debt retain the same amortization schedule. The company’s fixed-charge coverage and leverage ratios remain unaffected by the deal.

The expanded credit facility will support the company’s geographic expansion strategy, according to the release.

Lazydays is a Tampa, Fla.-based recreational vehicle company.

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