ePlus Expands Credit Facility

HERNDON, Va., Nov. 1, 2022 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) a leading provider of technology and financing solutions, today announced that its wholly-owned subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the "Borrowers") recently entered into an amendment to their credit agreement with their lenders (the "Lenders") for which Wells Fargo Commercial Distribution Finance Corporation ("WFCDF") acts as administrative agent. The credit facility, as modified by the amendment, consists of a discretionary senior secured floorplan facility in favor of the Borrowers in the aggregate principal amount of up to $425 million, an increase from $375 million, together with a sublimit for a discretionary senior secured revolving credit facility for up to $150 million, an increase from $100 million. In addition, the amendment converted all of the Borrower's loans from the Lenders based on a LIBOR rate to a Term SOFR rate.