Better terms in new LNT credit facility
October 31, 2007,
Clifton, N.J. — Home furnishings specialty retailer Linens ’n Things (LNT) has entered into a new $700 million credit agreement with GE Capital Markets, replacing its previously existing $700 million facility, which was made with UBS Securities.
The 580-store retailer said liquidity position will be “significantly enhanced,” and noted, “All of the agent banks in the company’s former credit facility continue to be participants in the new credit facility.”
The parties to the facility are Linens ’n Things, Inc.; Linens ’n Things Center, Inc.; and Linens ’n Things Canada Corp.; which are each wholly-owned subsidiaries of Linens Holding Co.