PLANO, Texas, Nov. 7, 2018 /PRNewswire/ -- At Home Group
Inc. (NYSE: HOME) (the "Company"), the home décor superstore, today
announced that it has initiated discussions with potential lenders
to refinance its existing senior secured term loan facility as part
of a broader strategy to lower the Company's overall cost of
borrowing. The new $425 million
senior secured term loan facility would mature seven years after
the closing date and replace the Company's existing $300 million term loan facility maturing in
June 2022. Proceeds from the new term
loan are expected to be used to repay the remaining balance on the
existing term loan, reduce outstanding borrowings under the
Company's asset-based revolving credit facility, and pay fees and
expenses associated with the transaction. The proposed refinancing,
if completed, is expected to provide additional liquidity for the
Company and provide for an extended maturity of the senior secured
term loan facility.
Lee Bird, Chairman and Chief
Executive Officer, stated, "The proposed refinancing of our term
loan facility is an opportunity to improve our capital structure
and increase our financial flexibility as we focus on the continued
achievement of our long-term growth potential."
The consummation of the refinancing is subject to market and
other conditions, including the completion of definitive agreements
and customary closing conditions. There can be no assurance that
the refinancing will occur, or, if it does, as to the terms of the
refinancing.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
You can generally identify forward-looking statements by our use of
forward-looking terminology such as "anticipate", "assumed",
"believe", "continue", "could", "estimate", "expect", "intend",
"may", "might", "outlook", "plan", "potential", "predict", "seek",
"should", or "would", or the negative thereof or other variations
thereon or comparable terminology. In particular, statements about
our proposed refinancing and the expected terms thereof contained
in this press release are forward-looking statements.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. These and other important
factors, including those factors described in "Item 1A. Risk
Factors" of our Annual Report on Form 10-K for the fiscal year
ended January 27, 2018 and other
reports that we file with the Securities and Exchange Commission
("SEC"), may cause our actual results, performance or achievements
to differ materially from any future results, performance or
achievements expressed or implied by these forward-looking
statements. Given these risks and uncertainties, you are cautioned
not to place undue reliance on such forward-looking statements. The
forward-looking statements contained in this release are not
guarantees of future performance and our actual results of
operations, financial condition and liquidity, and the development
of the industry in which we operate, may differ materially from the
forward-looking statements contained in this release. In addition,
even if our results of operations, financial condition and
liquidity, and events in the industry in which we operate, are
consistent with the forward-looking statements contained in this
release, they may not be predictive of results or developments in
future periods.
Any forward-looking statement that we make in this release
speaks only as of the date of such statement. Except as required by
law, we do not undertake any obligation to update or revise, or to
publicly announce any update or revision to, any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this press
release.
About At Home Group Inc.:
At Home (NYSE: HOME), the home décor superstore, offers more
than 50,000 on-trend home products to fit any budget or style, from
furniture, mirrors, rugs, art and housewares to tabletop, patio and
seasonal décor. At Home is headquartered in Plano, Texas, and currently operates more than
170 stores in 36 states.
HOME-F
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SOURCE At Home Group Inc.