Michaels Stores receives one-year extension on revolving credit facility

By Sara Rosenberg

New York, June 3 - Michaels Stores Inc. said it extended the maturity date of its $200 million revolving credit facility to April 30, 2005 from April 30, 2004. Fleet National Bank was the administrative agent of the loan.

"We are pleased to have obtained this well-deserved extension for Michaels Stores in recognition of its exceptional performance year after year. Their record achievements through the first quarter of 2002 reflect their potential for success in both the near and long-term," said Judith Kelly of Fleet National Bank in a news release.

Michaels Stores is an Irving, Tex. retailer of arts, crafts, framing, floral, decorative wall decor and seasonal merchandise.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.