Jo-Ann Stores announces new $365 million credit facilities
May 2, 2001 12:00 PM, Misty Milioto
Hudson, Ohio – Locally based Jo-Ann Stores Inc. entered into new four-year $365 million senior secured credit facilities, financed by Boston-based Fleet Retail Finance Inc.
These credit facilities consist of a $325 million revolving credit facility and a $40 million term loan facility and are secured by the inventory, receivables and other assets of the company. They are replacing the company's prior senior credit facility and a $40 million synthetic lease facility.
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