Bank of America, N.A. announces amendments to the revolving credit facility in favour of Pier 1 Imports

April 30, 2014

Client: Bank of America, N.A.

On April 30, 2014, Pier 1 Imports (US), Inc. (Pier 1) entered into a second amendment of its asset-based revolving credit facility in the principal amount of US$350,000,000. The facility is agented by Bank of America, N.A. (the Second Amendment).

Contemporaneously with the Second Amendment, Pier 1 entered into a new $200,000,000 senior secured term loan B facility with Bank of America, N.A., as administrative and collateral agent.

With over 1,000 locations, Pier 1 is North America’s largest specialty retailer of imported home furnishings and home décor.

Norton Rose Fulbright Canada LLP represented Bank of America, N.A., as Agent for the ABL facility, in Canada with a team consisting of David Amato, Serge Levy and Amanda Fortuna.