ePlus inc. a leading provider of technology and financing solutions, announced that its wholly-owned subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the “Borrowers”) recently entered into an amendment to their credit agreement with their lenders (the “Lenders”) for which Wells Fargo Commercial Distribution Finance Corporation (“WFCDF”) acts as administrative agent.
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The credit facility, as modified by the amendment, consists of a discretionary senior secured floorplan facility in favor of the Borrowers in the aggregate principal amount of up to $500 million, an increase from $425 million, together with a sublimit for a discretionary senior secured revolving credit facility for up to $200 million, an increase from $150 million.
“The increase and adjustments to our credit facility will allow us to continue to support our customers’ IT needs including digital transformation, hybrid workforce support, security, and cloud. We are pleased with the continued support by WFCDF and our Lenders, including two new banks which have joined the facility,” said Elaine Marion, chief financial officer.
SOURCE: PR Newswire