American Greetings Announces Amendment and Extension of Revolving Credit Facility to $400M

American Greetings Corporation (NYSE: AM) today announced that it has successfully amended its revolving credit facility. The amendment extends the term of the agreement from June 2015 to January 2017, increases the amount that can be borrowed under the credit facility from $350 million to $400 million, reduces the commitment fee due on undrawn borrowings, and lowers the margins paid on borrowings. The credit facility had no borrowings at the closing of the amendment.