Camping World Holdings, Inc. has entered into a first amendment to its existing floorplan credit agreement dated Sept. 30, 2021.
The company said the RV Inventory Floor Plan Facility Amendment will provide additional financial and operational flexibility for the company’s growth strategy.
The change increases Camping World’s borrowing capacity by more than 9%. The deal increases the floorplan financing capacity to $1.85 billion, up $150 million from the previous $1.7 billion max.
In addition, the amendment resets Camping World’s accordion feature in the plan. The feature enables the company to increase the principal available in $50 million increments, up to an additional $300 million. If the accordion feature was maxed out, Camping World could finance as much as $2.15 billion in inventory.
Camping World Chairman and CEO Marcus Lemonis said: “The RV Inventory Floor Plan Facility Amendment demonstrates our lenders’ confidence in Camping World and our strategic direction as we work toward our goal of increasing our store count by 50% over the next five years. This amendment provides incremental inventory borrowing capacity to support the future growth of our manufacturer-exclusive concept, dedicated to the industry’s leading OEM brands, including Keystone, Jayco, Forest River, Grand Design, Winnebago, Coachmen, and Alliance, among others.”
Lemonis previously announced Forest River, Jayco and Keystone RV stores. The addition of Alliance RV, Coachmen, Grand Design and Winnebago to the company’s manufacturer-exclusive lineup is the first time the manufacturers have been disclosed.
