Foot Locker Inc. secured a $200 million, four-year revolving credit
facility from a group of lenders, according to a filing with the
Securities & Exchange Commission. In addition, during the term of
the credit agreement, the company said it may
make up to four requests for additional credit commitments in an
aggregate amount not to exceed $100 million.
The credit facility may be used for the issuance of letters of credit,
to finance the acquisition of working capital assets in the ordinary
course of business and capital expenditures, and for general corporate
purposes.
The Credit Agreement has interest rate options that are based on a Base
Rate or LIBO Rate, on a per annum basis. There are no borrowings
outstanding under the Credit Agreement. Letters of credit totaling
$9,358,000 that were outstanding under the prior revolving credit
facility at March 20, 2009 will be replaced with new letters of credit
under the Credit Agreement for the same amount.
Lenders included Bank of America, N.A., as administrative agent,
collateral agent, Swing Line Lender and L/C Issuer; J.P. Morgan Chase
Bank, N.A. and Wells Fargo Retail Finance, LLC, as co-syndication
agents; U.S. Bank National Association, as Documentation Agent; and
Banc of America Securities LLC and J.P. Morgan Securities Inc., as
joint lead arrangers and joint bookrunners.
