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February 06, 2016 11:49 PM ET

Specialty Retail

Company Overview of The Container Store, Inc.

Company Overview

The Container Store, Inc. engages in the retail of storage and organization products in the United States. It offers closet, storage, kitchen, bath, travel, shelving, office, garage, laundry, and trash and recycling products. The company also sells its products online. It also offers designs and installs elfa solutions. The Container Store, Inc. was founded in 1978 and is based in Coppell, Texas. It has stores in Arizona, Arkansas, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Massachusetts, Minnesota, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Utah, Virgini...

500 Freeport Parkway

Coppell, TX 75019-3863

United States

Founded in 1978

Phone:

972-538-6900

Fax:

972-538-7646

Key Executives for The Container Store, Inc.

Co-founder, Chairman, Chief Executive Officer and President
Age: 62
Co-founder
Vice President of Buying Logistics and Operations
Vice President
Vice President
Age: 51
Compensation as of Fiscal Year 2015.

The Container Store, Inc. Key Developments

The Container Store, Inc. Enters into Amendment Agreement with JPMorgan Chase Bank, N.A

On October 8, 2015, The Container Store, Inc. (the Borrower), a wholly-owned subsidiary of The Container Store Group, Inc. (the Company), entered into an amendment (Amendment No. 2) with JPMorgan Chase Bank, N.A., as a lender, administrative agent and collateral agent, Wells Fargo Bank, National Association, as a lender, and the guarantors party thereto, to the revolving credit agreement dated as of April 6, 2012 (as amended to date, the Revolving Credit Facility). Pursuant to the terms of Amendment No. 2, among other items, (i) the maturity date of the loan was extended from April 6, 2017 to the earlier of (x) October 8, 2020 and (y) January 6, 2019, if any of the Borrower's obligations under its term loan credit facility remain outstanding on such date and have not been refinanced with debt that has a final maturity date that is no earlier than April 6, 2019 or subordinated debt, (ii) the aggregate principal amount of the facility was increased from $75 million to $100 million, (iii) the interest rate decreased from a range of LIBOR + 1.25% to 1.75% to LIBOR + 1.25% and (iv) the uncommitted incremental revolving facility was increased from $25 million to $50 million, which is subject to receipt of lender commitments and satisfaction of specified conditions. As provided in Amendment No. 2, the Revolving Credit Facility will continue to be used for working capital and other general corporate purposes. Amendment No. 2 allows for swing line advances of up to $15 million and the issuance of letters of credit of up to $40 million, increased from the previous swing line limits of $7.5 million and letter of credit limits of $25 million.

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