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SELECTED TRANSACTION DETAILS
PNC, KeyBank Agent $100MM Upsize for Footwear Firm Crocs
Wednesday, December 5, 2018

Lenders/Participants PNC Bank [Administrative Agent]
KeyBank [Syndication Agent]
Structure $100MM Credit Facility Upsize
Amount $250.000 Million
Borrower(s) Crocs, Crocs Retail, LLC and Jibbitz, LLC
Description The amendment increased the total commitments under the Credit Agreement from $150.0 million to $250.0 million; (ii) increased permitted stock repurchases from $200.0 million to $250.0 million per fiscal year; (iii) amended the Credit Agreement to permit the transactions contemplated by the Share Repurchase Agreement, (iv) modifies the interest rates and certain fees due in connection with the Credit Agreement, with quarterly updates to the interest rates based on the Company’s leverage ratio, and (v) amends certain other provisions to be more favorable to the Company, including certain financial covenants under the Credit Agreement.
Industry Apparel
Related Tags KeyBank, PNC Bank




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