PETCO Animal Supplies Inc. disclosed that on March 4, the company entered into a $500 million, five-year asset-based revolver from a group of 10 lenders.

Pricing on the facility is tied to availability, at L+125-175.

Citi, Goldman Sachs, BofA Securities, Credit Suisse, UBS Securities, Wells Fargo and Capital One acted as joint lead arrangers. Citi is administrative agent. ING Capital, Siemens Financial Services and Fifth Third also participated in the transaction.

The facility is covered by a springing fixed charge coverage ratio set at 1x.

Proceeds are earmarked for working capital and general corporate purposes.

Petco recently completed a $1.7 billion first-lien term loan to refinance its existing capital structure.

San Diego-based Petco is a retailer of premium pet food, supplies and services. Corporate issuer ratings are B/B2.