Marinemax, inc. expands financing capacity to $440 million

Marinemax, inc. announced that it has expanded its financing facility to provide for borrowings of up to $440 million from the previous limit of $400 million. the expanded facility has a three-year term, expiring in october 2022, and it has two, one-year options to renew, subject to lender approval. borrowings under the facility are secured primarily by the company’s inventory that is financed through the facility and related accounts receivable. the company’s real estate is not pledged. the facility contemplates that other lenders may be added by the company to finance other inventory not financed under this facility. the agent of the facility is wells fargo commercial distribution finance and includes m&t bank, bank of the west and bb&t.
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