masthead image
 
Best RV Tips Book Ad
 

RV Retailer FreedomRoads gets new Financing

August 31, 2006 - The nation's largest RV retailer, FreedomRoads, LLC, today announced that it has closed a $404.5 million loan syndication, consisting of an amended floor plan credit facility and a revolving credit facility. The amended floor plan and revolving credit facilities will provide FreedomRoads with added flexibility to support future growth and exceed the $2 billion sales mark.

The transaction was led by J. P. Morgan Securities Inc. as sole lead arranger and bookrunner, JPMorgan Chase Bank, N.A. as documentation agent and Bank of America, N.A. as administrative agent, collateral agent and floor plan agent. Six additional financial institutions participated in the syndication including KeyBank National Association, Fifth Third Bank, GE Commercial Distribution Finance Corporation, Manufacturers & Traders Trust Company, U.S. Bank National Association and Citizens Bank of Pennsylvania. The broad participation by these major lenders reflects FreedomRoads' position as the clear leader in the RV industry.

"The amended floor plan facility and new revolving credit facility provide FreedomRoads with the flexibility and capacity to continue to execute our operating strategy," said Roger Nuttall, Executive Vice President and Chief Financial Officer of FreedomRoads. "The terms and conditions of the amended facility allow the company to meet its growth objectives and further solidify our position as the industry leader."

Over the last year FreedomRoads has successfully focused on enhancing sales productivity by instituting sophisticated sales, marketing and inventory programs. This credit facility, which will help the company more efficiently manage its inventory, is another important tool in driving sales at rates that significantly outpace the industry. The new facility also allows the company to finance additional strategic acquisitions which meet its investment criteria.

About FreedomRoads

FreedomRoads is a dynamic national network of well-established local and regional RV dealerships that have united to benefit customers, employees, suppliers and the RV industry. FreedomRoads operates as a multi-store retail chain engaged in the retail sale, finance and service of recreational vehicles.

FreedomRoads is America's largest RV retailer operating 57 locations in 23 states including: Alabama, California, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, New Hampshire, New Jersey, New Mexico, Nevada, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Washington.

FreedomRoads stocks over $350 million of new and used recreational vehicle inventory representing over 40 manufacturers. For additional information, please visit www.FreedomRoads.com, where the largest selection of recreational vehicles is available for sale.

 

Get tips on the RV lifestyle, RV equipment, campgrounds, sights and attractions, safety and just about anything else useful RVers.

RVTipOfTheDay.com

Stay Up to Date - Follow Us
on Facebook

We let our Facebook followers know when we post a new article or news story to our websites.


Fans of RVbasics.com on Facebook

Join Our FREE RVBasics Email Discussion Group

Get current information about the RVing lifestyle, and the RV industry from your fellow RVers. You can also post your own questions. We never share your email address with anyone.

Get more information and Join

Follow Links Below to Featured Pages
and Our Other Sites

RVing Videos
from YouTube

load('http://rvingvideos.com/feed/'); $feed = array(); foreach ($rss->getElementsByTagName('item') as $node) { $item = array ( 'title' => $node->getElementsByTagName('title')->item(0)->nodeValue, 'desc' => $node->getElementsByTagName('description')->item(0)->nodeValue, 'link' => $node->getElementsByTagName('link')->item(0)->nodeValue, 'date' => $node->getElementsByTagName('pubDate')->item(0)->nodeValue, ); array_push($feed, $item); } $limit = 1; for($x=0;$x<$limit;$x++) { $title = str_replace(' & ', ' & ', $feed[$x]['title']); $link = $feed[$x]['link']; $description = $feed[$x]['desc']; $date = date('l F d, Y', strtotime($feed[$x]['date'])); echo '

'.$title.'
'; echo 'Posted on '.$date.'

'; echo '

'.$description.'

'; } ?>

RV Tip of the Day

load('http://rvtipoftheday.com/feed/'); $feed = array(); foreach ($rss->getElementsByTagName('item') as $node) { $item = array ( 'title' => $node->getElementsByTagName('title')->item(0)->nodeValue, 'desc' => $node->getElementsByTagName('description')->item(0)->nodeValue, 'link' => $node->getElementsByTagName('link')->item(0)->nodeValue, 'date' => $node->getElementsByTagName('pubDate')->item(0)->nodeValue, ); array_push($feed, $item); } $limit = 1; for($x=0;$x<$limit;$x++) { $title = str_replace(' & ', ' & ', $feed[$x]['title']); $link = $feed[$x]['link']; $description = $feed[$x]['desc']; $date = date('l F d, Y', strtotime($feed[$x]['date'])); echo '

'.$title.'
'; echo 'Posted on '.$date.'

'; echo '

'.$description.'

'; } ?>

Search or Site
This Site is Produced by Steven Fletcher & Fran Crawford - Contact Us - All RIghts Reserved - Copyright 1999 - 2013