Camping World Announces Proposed Refinancing of Senior Secured Credit Facilities
Camping World Holdings, Inc. (NYSE: CWH) is set to refinance its senior secured credit facilities, targeting an increase in revolving credit capacity and an extension of the maturity date. The details regarding this refinancing will be disclosed post-transaction completion, expected later this month. However, the refinancing is contingent on customary closing conditions and market factors, leaving its occurrence uncertain. The company emphasizes its commitment to building long-term value for stakeholders in the RV retail sector.
- Plans to increase revolving credit capacity.
- Extension of maturity date sought, potentially improving liquidity.
- Uncertainty regarding the refinancing's completion and terms.
- Reliance on market conditions and customary closing conditions.
Camping World Holdings, Inc. (NYSE: CWH) (the “Company,” “Camping World,” “we,” “us” or “our”), America’s Recreation Dealer, today announced plans to refinance its senior secured credit facilities.
The Company is seeking to refinance its senior secured term loan facility and concurrently amend its revolving credit facility by increasing the revolver capacity and extending the maturity date. The terms of the proposed refinancing will be disclosed upon the completion of the transaction, which is expected to occur later this month.
The proposed refinancing transaction is subject to the occurrence of the effectiveness of definitive documentation for the facilities as well as customary closing conditions, and is subject to market and other conditions. There can be no assurance that the refinancing will occur, or, if it does, the terms of the refinancing.
About Camping World Holdings, Inc.
Camping World Holdings, Inc. (together with its subsidiaries) is America’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy, and our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly-trained and knowledgeable team of associates serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services uniquely enables us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle.
For more information, please visit www.CampingWorld.com.
Non-GAAP Financial Measures
Adjusted EBITDA is not a measurement of financial performance prepared in accordance with GAAP. A reconciliation for Camping World’s adjusted EBITDA guidance to the corresponding GAAP measure on a forward-looking basis cannot be provided without unreasonable efforts.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the proposed refinancing and the Company’s plans with respect thereto, future prospects and financial performance, business strategy and plans and objectives of management for future operations. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 30, 2020 with the SEC on February 26, 2021. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210512005584/en/
FAQ
When is Camping World Holdings planning to refinance its credit facilities?
What changes does Camping World intend to make to its credit facilities?
What risks are associated with Camping World's refinancing plans?
How does the refinancing affect Camping World Holdings' financial strategy?
