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Actionable news in TCS: THE CONTAINER STORE GROUP Inc,

Entry Into a Material Definitive

On October8, 2015, The Container Store,Inc. (the Borrower), a wholly-owned subsidiary of The Container Store Group,Inc. (the Company), entered into an amendment (Amendment No.2) with JPMorgan Chase Bank, N.A., as a lender, administrative agent and collateral agent, Wells Fargo Bank, National Association, as a lender, and the guarantors party thereto, to the revolving credit agreement dated as of April6, 2012 (as amended to date, the Revolving Credit Facility). Pursuant to the terms of Amendment No.2, among other items, (i)the maturity date of the loan was extended from April6, 2017 to the earlier of (x)October8, 2020 and (y)January6, 2019, if any of the Borrowers obligations under its term loan credit facility remain outstanding on such date and have not been refinanced with debt that has a final maturity date that is no earlier than April6, 2019 or subordinated debt, (ii)the aggregate principal amount of the facility was increased from $75 million to $100 million, (iii)the interest rate decreased from a range of LIBOR + 1.25% to 1.75% to LIBOR + 1.25% and (iv)the uncommitted incremental revolving facility was increased from $25 million to $50 million, which is subject to receipt of lender commitments and satisfaction of specified conditions.

As provided in Amendment No.2, the Revolving Credit Facility will continue to be used for working capital and other general corporate purposes. Amendment No.2 allows for swing line advances of up to $15 million and the issuance of letters of credit of up to $40 million, increased from the previous swing line limits of $7.5 million and letter of credit limits of $25 million. The...


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