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Camping
World RV Sales
Finalizes
Multi-Year Floor Plan
Facility
"Nearly 34,000 units
retailed this year -
well positioned for
another solid financial
performance..."
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LINCOLNSHIRE, IL--(Marketwire - December 2,
2010) - FreedomRoads (dba Camping World RV
Sales), the nation's largest recreational
vehicle retailer, announced today that it
has closed a $308.5 million multi-year
syndicated credit facility, consisting of an
amended floor plan credit facility, letter
of credit facility and a term loan. The
transaction was led by Bank of America,
N.A., which serves as the Administrative
Agent, and included nine additional lenders:
Bank of the West, Citizens Bank, Fifth Third
Bank, GE Commercial Distribution Finance
Corporation, JP Morgan Chase Bank, KeyBank,
M & T Bank, Suntrust Bank and US Bank.
Roger Nuttall, Camping World Executive Vice
President and COO stated, "Our Company's
double digit return in same store sales has
earned us a multi-year facility. The nearly
34,000 units retailed this year are slightly
off the high of 2007." Nuttall remarked,
"additionally we were happy to see new
levels of inventory turns, gross margins and
EBITDA profitability. Our top line outlook
for 2011 remains flat to slightly up
however, our tight inventory controls and
right sized SGA has us well positioned for
another solid financial performance."
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Floor plan financing is a line of credit that
allows dealers to borrow against their
inventory, and then repay that debt as they sell
their inventory or borrow against the line of
credit again to add new inventory.
About FreedomRoads/Camping World RV
Sales
FreedomRoads/Camping World RV Sales operates
a dynamic network of well-established local and
regional RV dealerships, RV Maintenance/ Repair
Centers and RV Rental Stations that united to
benefit customers, employees, suppliers and the
RV industry. The FreedomRoads/Camping World RV
Sales operating entity, which does business
under the Camping World Brand, engages in the
retail sale, finance, service and rental of
recreational vehicles, representing the Nation's
leading manufacturers and Industry suppliers.
Today FreedomRoads/Camping World RV Sales serves
over four million RV enthusiasts. Visit
www.CampingWorld.com for more details.
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