ePlus enters $375M credit facility, up from $275M; Wells Fargo CDF agent

EPLUS INC

New senior secured floorplan facility up to $375M for ePlus subsidiaries; revolver sublimit of $100M.
Facility replaced $275M prior facility; outstanding balance at close was ~$175M, no early termination penalties.
Interest at LIBOR + 1.75%; one-year initial term with automatic renewal; financial covenants only if borrowing base drops.
ePlus parent provides limited guaranty up to $10.5M under the new credit documents.

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