Syms amends $75 million ABL revolver, increasing borrowing capacity

By Angela McDaniels

Tacoma, Wash., June 17 - Syms Corp and its subsidiary Filene's Basement, LLC amended their $75 million asset-based revolving credit facility on Thursday, decreasing the financial covenant requiring at least 12.5% of the loan cap to be available to 10%.

This allows the company to borrow up to an additional 2.5% of the borrowing base.

The company paid a $62,500 amendment fee, according to an 8-K filing with the Securities and Exchange Commission.

Bank of America, NA is the administrative agent.

Syms is a Secaucus, N.J.-based off-price clothing retailer.

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