June 1, 2009 (FinancialWire) — Ethan Allen Interiors Inc. (NYSE: ETH) said it has entered into a new three year senior secured revolving credit facility. The new facility is initially set at $40 million with an accordion feature permitting increase to up to $60 million.

The company said it currently has no plans to use the facility other than for its outstanding letters of credit, which are currently worth $12.5 million. The credit facility is provided by a syndicate led by JP Morgan Chase Bank, N.A. (NYSE: JPM).

Ethan Allen said that the facility is secured by the company’s domestic assets other than real estate and related fixed assets.

Danbury, Connecticut-based Ethan Allen Interiors is a manufacturer and retailer of home furnishings. The company sells a range of furniture products and accessories through a network that, as of March 31, consisted of 290 design centers in the United States and abroad, of which 159 are company owned.

Ethan Allen operates eight manufacturing facilities in the United States, which include two sawmills, and one manufacturing facility in Mexico.

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