Skechers USA, Inc. announced the closing of a new $500 million, five-year, senior unsecured credit facility. This new credit facility replaces the $250 million asset-backed credit facility that Skechers entered into in 2015, which was due to expire in June 2020.
The syndicate of lenders includes Bank of America N.A., a subsidiary of Bank of America Corporation (NYSE:BAC), as lead arranger, and BofA Securities, Inc., a subsidiary of Bank of America Corporation, HSBC Bank USA, N.A., a subsidiary of HSBC Holdings plc (NYSE:HSBC) and JPMorgan Chase Bank, N.A., a subsidiary of JPMorgan Chase & Co. (NYSE:JPM) as joint lead arrangers for the facility. Additional participants in the syndicate include Bank of China, Los Angeles Branch, MUFG Union Bank, N.A. and City National Bank.
