Crocs Inc. said Monday it has launched an offering of $300 million of 8-year bonds.
The senior notes, due 2029, will be sold in a private offering. The notes will be guaranteed, jointly and severally, on an unsecured basis, by certain of Crocs’ wholly-owned restricted subsidiaries.
Crocs intends to use the net proceeds from the offering of the notes to repay up to $180.0 million of outstanding borrowings under Crocs’ revolving credit facility and the remainder for general corporate purposes, which may include working capital, capital expenditures, stock repurchases and acquisitions.
Photo courtesy Crocs
