On Oct. 10, Wolverine World Wide, Inc. amended its loan agreements, according to a filing with the Securities & Exchange Commission. The amendment provides for a $775 million term loan and a $200 million revolving
It also allow for incremental facilities that, taken together with the senior credit facilities, do not exceed $1.35 billion in the aggregate, and reduces the interest rates applicable to the senior credit facilities. Loans under the senior credit facilities will bear interest at a variable rate equal to either the applicable base rate or LIBOR, plus in each case an interest margin determined by the Company's net total leverage ratio, with a range of base rate margins from 0.375 percent to 1.25 percent, and a range of LIBOR margins from 1.375 percent to 2.25 percent.
The maturity date of the loans under the Senior Credit Facilities is Oct. 10, 2018.