USA: Ames Signs Credit Agreement For $75m
Ames Department Stores, Inc announced today the signing of its new financing agreement with Kimco Funding, LLC, an affiliate of Kimco Realty Corp, providing for up to $75m in new funding available to Ames for general corporate purposes. Under terms of the new credit facility, Kimco has agreed to provide Ames with a loan secured by first priority leasehold interests on approximately 150 Ames stores as well as second priority security interests in inventory and owned real estate.
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