JPMorgan Chase Bank acted as both administrative and syndication agent on an amendment to its credit agreement with interior design and home furnishings retailer Ethan Allen Interiors. The amendment provides a revolving credit line of up to $165 million.
According to the related 8-K filing, Capital One acted as documentation agent on the transaction.
At the Ethan Allen’s option, revolving loans under the facility will bear interest, based on the average availability, at an annual rate of either LIBOR plus 1.5% to 2.0%, or the higher of the prime rate, the federal funds effective rate plus 0.5% or LIBOR plus 1.0%, plus in each case 0.5% to 1.0%.
