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Camping World Holdings Inc. announced that CWGS Group LLC, an indirect subsidiary of the company, has entered into a third amendment to its credit agreement with Goldman Sachs Bank USA, as administrative agent.

The amendment reduces the interest rate by 25 basis points with a reduction in the applicable interest margin to 1.75% from 2% per annum, in the case of base rate loans, and to 2.75% from 3% per annum, in the case of LIBOR loans on April 6.

The move also increases the borrower’s term loan facility by $250 million to a principal amount of $1.19 billion outstanding as of March 28. 

The proceeds from the incremental add-on to the credit agreement are expected to be used to fund future dealership acquisitions and expand the Camping World’s retail platform, as well as to pay related fees and expenses associated with the third amendment.