GameStop entered into a new $500 million global asset-based revolving credit facility with a syndicate of banks. Wells Fargo Bank acted as Lead Arranger and will serve as Administrative Agent.
The new five-year ABL Facility, which was oversubscribed, replaces the Company’s existing $420 million facility due in November 2022. In addition to delivering enhanced liquidity, the new ABL Facility provides for reduced borrowing costs, lighter covenants and more flexibility.