Big Lots signs $200 million credit facility to support Canadian acquisition
Staff Staff -- Furniture Today, July 25, 2011
Columbus, Ohio - Closeout chain Big Lots Inc. said it is has signed for a new $700 million, five-year unsecured revolving credit facility, which includes a $200 million Canadian dollar sub-facility, to support the growth of the retailer's recently acquired Canadian operation.
This new credit facility will replace Big Lots' prior $500 million credit facility, which was set to expire in April 2012.
"This new, larger facility demonstrates the relationship we have with our key banking partners and the strength of our financial performance and credit profile," said Steve Fishman, chairman, ceo and president of 1,412-unit Big Lots in the United States and 89-unit Liquidation World and LW in Canada.
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