Clarus Corporation, the parent of Black Diamond, Sierra and Pieps, has signed a new $75 million credit facility agreement, plus an uncommitted accordion feature providing for an additional $75 million, for a total of up to $150 million with J.P. Morgan Chase Bank N.A., providing greater international capabilities. The upsized agreement replaces the company’s $40 million revolving credit line at more favorable rates.

Under the terms of the new agreement, Clarus has access to up to a $75 million senior secured revolving credit line, with an additional $75 million uncommitted accordion feature. The facility bears interest at an adjusted LIBOR rate, plus an applicable margin ranging from 1.5 percent to 2.0 percent that matures in 2022. The use of proceeds will be to fully pay down the company’s previously existing revolving credit facility, as well as for working capital and general corporate purposes.

Key features of J.P. Morgan Chase Bank’s international product include the potential for local funding sources and the future ability for European and Asia-Pacific region subsidiaries to share borrowing base availability.

“Our new, upsized revolving credit facility represents a strong pillar in our overall financial strategy and is supportive of our long-term growth plans,” said Clarus CFO Aaron Kuehne. “The key features of the agreement provide flexible covenants with structural enhancements for our strategically important, internationally-based operations. In addition to significantly enhancing our financial flexibility, we also lowered our financing costs, further strengthening our ability to pursue additional accretive acquisitions in the consumer and outdoor industries.”