Yankee Candle Establishes New $200 Million Credit Facility

The Yankee Candle Company, Inc., South Deerfield, MA, announced it has entered into a new $200 million unsecured revolving credit facility. This new facility has two tranches, a $150 million tranche that expires on May 19, 2007, and a $50 million tranche that expires on May 18, 2005. Company executives said the new facility replaces the $150 million revolving credit facility that was scheduled to expire on July 7, 2004.

Executives said Citizens Bank of Massachusetts was the Sole Arranger and is the Administrative Agent for the facility. Other titled roles include Wachovia Bank as Syndication Agent and Fleet National Bank as Documentation Agent. There are a total of nine banks participating in the new facility, which will be used, among other things, for working capital, refinancing existing debt, letters of credit, repurchase of the company’s common stock and other general corporate purposes.