QVC lifts credit facility to $2.25 billion, extends to 2020

By Toni Weeks

San Luis Obispo, Calif., March 9 – QVC, Inc. announced it has refinanced its bank credit facility with an amended and restated senior secured multi-currency credit facility, extending the maturity to March 2020.

The facility provides for a line of credit of up to $2.25 billion. It replaces QVC’s existing $2 billion bank credit facility, which was set to expire in March 2018.

The interest rate for the credit facility is lower than the rate for the previous bank credit facility, according to a press release.

QVC’s maximum leverage ratio covenant under the new facility is 3.5 times, unchanged from the previous facility.

The new facility is secured by QVC stock.

QVC is a West Chester, Pa.-based cable, satellite and broadcast television network specializing in televised home shopping.

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