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

 

Cision View original content:http://www.prnewswire.com/news-releases/at-home-group-inc-announces-proposed-refinancing-of-term-loan-facility-300745964.html

SOURCE At Home Group Inc.

Copyright 2018 PR Newswire

At Home (NYSE:HOME)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more At Home Charts.
At Home (NYSE:HOME)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more At Home Charts.