Pacific Sunwear of California has entered into a new five-year $200.0 million credit facility with an expanded syndicate of banks. The new credit agreement increased the Company's revolving line of credit to $200.0 million, which can be increased further up to $275.0 million at the option of the Company under certain circumstances. The facility is available for direct borrowings and the issuance of letters of credit.
This credit facility replaces the Company's previous single bank, $50.0 million credit facility, which was scheduled to expire on April 1, 2007.
