Dick’s Sporting Goods amends the company’s senior secured revolving credit facility arrangement to have $2.1 billion in aggregate commitments, up from a prior level of $1.6 billion.
In a regulatory filing, Dick’s said, “The amendment increased the aggregate commitments under the senior secured credit facility by approximately $255 million, to approximately $1.855 billion.”
The amendment also increased the applicable margins on base rate loans and LIBOR rate loans to the highest level under the existing pricing grid, 0.375 percent and 1.375 percent, respectively, until the company elects to lower the aggregate commitments under the senior secured credit facility to below $1.6 billion.
Dick’s said after giving effect to the amendment, the senior secured credit facility allows the company to request an increase of up to approximately $245 million in additional borrowing availability.
Photo courtesy Dick’s Sporting Goods