Sotheby’s extends $50 million incremental revolver by one year to 2018

By Wendy Van Sickle

Columbus, Ohio, July 26 – Sotheby’s extended the $50 million incremental revolving credit facility on Tuesday by one year to Aug. 22, 2018, according to an 8-K filed with the Securities and Exchange Commission.

Sotheby’s said it amended its credit agreement dated Aug. 22, 2014 with an international syndicate of lenders.

The credit agreement has a maturity date of Aug. 22, 2020 and a maximum aggregate borrowing size of $1,335,000,000, with $300 million committed to Sotheby’s Agency segment and $1,035,000,000 committed to Sotheby’s Financial Services.

Sotheby’s is a New York-based company that engages in art auction, private sales and art-related financing activities.

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