Crocs increased the total commitments under its revolving credit line with Bank of America, PNC and five other lenders, by $150 million to $750 million, with a $250 million accordion feature, according to a regulatory filing.
The amendment also extended the maturity date of the credit agreement to November 30, 2027, allowing for certain alternative currency borrowings and amending certain other provisions to be more favorable to the company.
There were no material changes in the financial covenants or changes to the interest rates outstanding.
Photo courtesy Crocs
