Coldwater Creek (CWTR) Surges Higher on New Loan Deal

July 10, 2012 9:57 AM EDT
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Coldwater Creek Inc. (Nasdaq: CWTR) is booming 48 percent higher early Tuesday after the company announced a the closing of a five-year, $65 million senior secured term loan provided by private equity firm Golden Gate Capital.

Coldwater Creek also also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), which matures on May 16, 2016.

The news appears to take imminent liquidity and bankruptcy fears off the table.

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