AmeriMark extends $48 million DIP revolver maturity through July 21

By Sarah Lizee

Olympia, Wash., June 7 – AmeriMark Interactive, LLC amended its $48 million senior secured super-priority debtor-in-possession revolving credit facility and extended the maturity date to July 21 from May 30, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The DIP loan is with prepetition term agent SLR Credit Solutions, which previously acquired 100% of PNC Bank, NA’s positions under the prepetition credit agreement and the DIP credit agreement.

Now that the final order has been entered, the remaining outstanding amount under the prepetition revolver will be rolled up on a cashless dollar-for-dollar basis into loans under the DIP facility.

Interest on the DIP facility is equal to the base rate plus 475 basis points.

AmeriMark is a Cleveland-based direct marketer of women's apparel, shoes, cosmetics, fragrances, jewelry, watches, accessories and health-related merchandise. The company filed bankruptcy on April 11 under Chapter 11 case number 23-10438.

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