FORT WORTH, Texas
Sept. 27, 2012
/PRNewswire/ -- RadioShack Corp. (NYSE: RSH) announced today that it has closed a new
term loan through Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC). The loan is secured by a second lien on the inventory and accounts receivable and other specific assets. The key terms of the transaction include a five-year term, an interest rate of 11% and an optional prepayment structure that allows for
each year without a premium or in entirety with a prepayment penalty.
"We are pleased to have closed on this new term loan with Wells Fargo Capital Finance. This largely completes the capital structure strategy we discussed on the second-quarter earnings call, in which we outlined our goal to refinance approximately one-half of the debt maturity coming due in August 2013," said
, interim chief executive officer of RadioShack.
About RadioShack Corporation
RadioShack (NYSE: RSH) is a leading national retailer of innovative mobile technology products and services, as well as products related to personal and home technology and power supply needs. RadioShack
offers consumers a targeted assortment of wireless phones and other electronic products and services from leading national brands, exclusive private brands and major wireless carriers, all within a comfortable and convenient shopping environment. RadioShack employs approximately 34,000 knowledgeable and helpful sales experts globally. RadioShack's retail network includes approximately 4,700 company-operated stores in
the United States
, 1,500 wireless phone centers in
the United States
, and approximately 1,100 dealer and other outlets worldwide. For more information on RadioShack Corporation, please visit
; to purchase items online, please visit
is a registered trademark licensed by RadioShack Corporation.
SOURCE RadioShack Corp.