Williams-Sonoma extends $90 million letter-of-credit facility to 2013

By Aleesia Forni

Columbus, Ohio, Sept. 9 - Williams-Sonoma, Inc. renewed $90 million in unsecured commercial letter of credit reimbursement facilities, according to an 8-K filed with the Securities and Exchange Commission on Sept. 2.

Letters of credit can now be requested up to Aug. 31, 2012. The latest date of expiration for any future letters of credit under this facility is January 2013.

Under this facility, the company must maintain a maximum leverage ratio of 3.5 to 1.0.

The company entered into this facility with Bank of American NA, Wells Fargo Bank NA and U.S. Bank NA.

Williams-Sonoma is a San Francisco, Calif.-based home goods retail business.

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