debt
confidence high
sentiment neutral
materiality 0.60
Camping World refinances mortgage facility with M&T: $175M total, maturity extended to 2031
Camping World Holdings, Inc.
- A&R credit agreement with M&T: $132.8M funded at closing plus $42.2M delayed draw commitments, total $175M.
- Maturity extended to Aug 25, 2031 from Oct 27, 2027; amortization 5% annually starting Sept 30, 2026.
- Interest at Term SOFR+2.30% or base+1.30%; 0.20% fee on unused delayed draw; option for $100M additional.
- Covenant: consolidated debt service coverage ratio >1.10:1.00, tested from Sept 30, 2026.