Bombay Company (BBA) Announces New $10 Million Term Loan; Updates Status Of Strategic Alternative
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The Bombay Company, Inc. (NYSE: BBA) has entered into an agreement for a new $10 million, secured term loan facility with a fund managed by GB Merchant Partners, LLC. The facility is coterminous with the Company's existing $125 million secured revolving credit facility with GE Commercial Finance, Corporate Lending and was arranged by GE Capital Markets, Inc. as Sole Lead Arranger. The new facility will provide incremental liquidity to fund working capital requirements and other corporate needs.
The Company also noted that William Blair & Company, engaged by the Board of Directors, to investigate strategic alternatives, has received non binding offers to purchase the Company at prices that are premiums to yesterday's closing price.
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