Tuesday Morning amends revolver, extending tenor, reducing size, increasing spread

By Sara Rosenberg

New York, April 20 - Tuesday Morning Corp. amended its revolving credit facility, extending the maturity by one year to Dec. 22, 2010, reducing the size to $200 million from $210 million and increasing pricing by five basis points at each pricing level, according to a company news release.

In addition, the amendment changed the leverage ratio covenant to 2.5 times from 3.0 times.

"We are pleased with the support we have received from our financial institutions and believe this amendment gives us additional flexibility to continue to execute our operating plans," said Kathleen Mason, president and chief executive officer, in the release.

Tuesday Morning is a Dallas-based closeout retailer of upscale, decorative home accessories and famous-maker gifts.

© 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.