Finish Line gets amended, restated $125 million five-year revolver

By Angela McDaniels

Tacoma, Wash., Dec. 6 – Finish Line, Inc. entered into an amended and restated credit facility on Nov. 30 that provides for a $125 million revolving credit facility due Nov. 30, 2021, according to an 8-K filing with the Securities and Exchange Commission.

The amended and restated revolver has a $75 million accordion feature.

The interest rate is Libor plus a margin that ranges from 90 basis points to 175 bps. The facility fee ranges from 10 bps to 25 bps. Both depend on the company’s leverage ratio.

PNC Bank, NA is the administrative agent, bookrunner and lead arranger.

Subsidiaries Finish Line USA, Inc., Finish Line Distribution, Inc., Finish Line Transportation Co., Inc., and Spike’s Holding, LLC are also borrowers under the revolver.

Borrowings will be used by the company, among other things, to issue letters of credit, to support working capital needs, to fund capital expenditures and for other general corporate purposes.

The revolver replaces the company’s prior revolver dated Nov. 30, 2012. All commitments under the prior revolver were terminated on Nov. 30 and transferred to the amended and restated revolver. No new advances were borrowed at closing.

Finish Line MA, Inc., a wholly owned subsidiary of the company, has guaranteed the obligations of the company and the subsidiary borrowers under the amended revolver.

Finish Line is an Indianapolis-based retailer of athletic shoes and apparel.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.