Dick’s Sporting Goods signs replacement revolver for $1.6 billion

Chicago, Jan. 18 – Dick’s Sporting Goods, Inc. signed a $1.6 billion revolver with Wells Fargo Bank, NA as administrative agent on Friday, according to an 8-K filed with the Securities and Exchange Commission.

Up to $75 million of the facility is available for letters of credit.

The revolver, due Jan. 14, 2027, will have an interest rate based on SOFR plus 112.5 basis points.

The interest rate may be adjusted based on the company’s public debt rating.

There is no required amortization, and voluntary prepayment may be made at any time without penalty.

The company terminated its $1.855 billion existing secured credit facility from Aug. 12, 2015 in connection with the signing of the new facility.

Wells Fargo Securities, LLC and BofA Securities, Inc. are the joint lead arrangers and joint bookrunners.

Bank of America, NA is the syndication agent.

PNC Bank, NA, TD Securities (USA) LLC and U.S. Bank NA are the co-documentation agents.

Dick’s Sporting Goods is a Pittsburgh-based sporting goods retailer.

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