Camping World Holdings, Inc. filed a Form 8-K on August 31, 2026, disclosing that certain of its indirect subsidiaries entered into an Amended and Restated Credit Agreement providing senior secured mortgage loan facilities totaling $175.0 million, effective August 25, 2026.

Key Highlights

  • Total facility size: The A&R Mortgage Facility provides aggregate principal capacity of $175.0 million in senior secured mortgage loans.
  • Funded at closing: $132.8 million of mortgage loans were funded at closing, with $20.8 million of additional net funds drawn at that time.
  • Delayed draw commitments: $42.2 million of delayed draw mortgage loan commitments are available through February 25, 2031.
  • Maturity extended: The facility matures August 25, 2031, extending the prior maturity date of October 27, 2027.
  • Interest rate options: Borrowings bear interest at a term SOFR rate plus 2.30% per annum or a base rate plus 1.30% per annum, at the borrowers' option.
  • Optional additional capacity: Subject to specified conditions, borrowers may request up to an additional $100.0 million of borrowing capacity.
  • Debt service coverage covenant: The facility requires borrowers to maintain a consolidated debt service coverage ratio of not less than 1.10 to 1.00, tested as of the last day of each test period beginning with the period ending September 30, 2026.

Camping World Subsidiaries Refinance and Expand Mortgage Facility with M&T Bank

According to the filing, certain subsidiaries of FRHP Lincolnshire, LLC, each an indirect subsidiary of Camping World Holdings, Inc. (NYSE:CWH), entered into the Amended and Restated Credit Agreement on August 25, 2026, with Manufacturers and Traders Trust Company ("M&T") serving as administrative agent. The A&R Mortgage Facility amends and restates in its entirety a prior Credit Agreement dated October 27, 2022 with M&T. The company disclosed that mortgage loans funded at closing "continued and refinanced the loans outstanding under the Prior Mortgage Facility," with $20.8 million of additional funds drawn at closing, net of fees and lender holdbacks.

The filing states that the mortgage loans amortize in quarterly installments in an aggregate annual amount equal to 5.0% of the original principal amount of such loans, commencing September 30, 2026, with the remaining unpaid balance due at maturity. Borrowers also pay a fee of 0.20% per annum on the average daily unused portion of the delayed draw commitments. The A&R Mortgage Facility is secured by mortgages on specified real property of the borrowers and related assets, and is guaranteed by Holdings, certain subsidiaries of Holdings, and CWGS Group, LLC.

The filing notes that the agreement contains customary representations and warranties, affirmative and negative covenants, and events of default. The full text of the A&R Mortgage Facility was filed as Exhibit 10.1 to the Current Report, though the filing notes that certain exhibits to the agreement were omitted pursuant to Item 601(a)(5) of Regulation S-K. The report was signed by Thomas E. Kirn, Chief Financial Officer, on August 31, 2026.

What Was Disclosed

Camping World Holdings disclosed the entry into a $175.0 million Amended and Restated Mortgage Credit Agreement by indirect subsidiaries, refinancing a prior 2022 facility, extending the maturity to August 25, 2031, and creating a direct financial obligation as reported under Items 1.01 and 2.03.