American Tire Distributors boosts credit commitments to $650 million

By Susanna Moon

Chicago, June 9 - American Tire Distributors Holdings, Inc. amended its credit agreement Monday with Bank of America, NA as administrative and collateral agent and lender, according to an 8-K filing with the Securities and Exchange Commission.

The revolving line of credit was increased to $650 million from $450 million, and maturity was pushed back to June 6, 2016.

Interest will be Libor plus 175 basis points to 225 bps, based on average historical excess availability.

The commitment fee will be 25 bps to 50 bps.

The lenders are Bank of America, NA, Wells Fargo Capital Finance, LLC, General Electric Capital Corp., GE Capital Financial Inc., UBS Loan Finance LLC, RBS Business Capital, Regions Bank, Royal Bank of Canada and Barclays Bank plc.

American Tire Distributors is a Charlotte, N.C.-based distributor of replacement tires.

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