Best Buy 2003 Annual Report Download - page 54

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Exhibit 4.2
September 13, 2002
Best Buy Canada Ltd.
8800 Glenlyon Parkway
Burnaby, British Columbia
V5J 5K3
Attention: Kevin Layden
President and Chief Operating Officer
Dear Sirs:
On the basis of the financial statements and other information provided by Best Buy Canada Ltd. Magasins Best Buy Ltée. (formerly
known as Future Shop Ltd. Future Shop Ltée.) in connection with your request for continued financing, HSBC Bank Canada (the
“Bank”) has authorized and hereby offers to make available the following credit facilities (collectively, the “Loans”) on the terms and
conditions indicated below:
1. Borrower:
Best Buy Canada Ltd. Magasins Best Buy Ltée (the “Borrower”)
2. Guarantors:
2.1. Best Buy Co., Inc. (“Best Buy Co.”)
2.2. Best Buy Stores, L.P. (“Stores L.P.”)
3. Credit Facilities:
3.1. The existing Operating Loan and Bulge Facility (each as defined in the offer
letter dated August 15, 2000, as amended or supplemented by offer letters dated May 7,
2001, October 26, 2001 and November 28, 2001 (collectively, the “Prior Offer Letter”))
and the outstanding term loan with an unpaid balance of CDN $11,660,000 (the “Term
Loan”) shall be replaced with a committed 364 day revolving operating loan in the
principal amount of CDN $50,000,000 (the “Operating Loan”), which Operating Loan
shall be available on the terms and conditions set out herein for a 364 day term (the
“Operating Term”) commencing on the date of acceptance of this Offer Letter by the
Borrower and which shall, if the Borrower so elects, include a bank guarantee and
letter of credit facility in the principal amount of up to CDN $10,000,000 (the
“Documentary Credit Sub−Facility”),