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Wells Fargo Amends and Extends Guitar Center’s Asset-Based Lending Facility
Wells Fargo has amended and extended Guitar Center’s asset-based lending facility, maintaining $375 million in commitments while reducing borrowing costs and relaxing certain covenants. The maturity date has been extended to May 8, 2031, providing the musical instrument retailer with greater financial flexibility and reflecting its consistent sales growth and strategic initiatives. This move enhances Guitar Center’s liquidity and maturity runway.