Charming Shoppes gets new $225 million credit facility

Bensalem, Pa. Charming Shoppes said Monday that it worked out a three-year deal for a new $225 million senior secured revolving credit agreement.

The facility, which replaces a $375 million revolving credit agreement, will provide funds through July 2012.

The new agreement also has an option that allows the retailer to boost its maximum credit up to $300 million. The facility can be used for general corporate purposes, with up to $100 million put toward letters of credit.