Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Foot Locker Inc. > News item |
Foot Locker lifts revolver to $600 million, extends to July 2025
By Sarah Lizee
Olympia, Wash., July 16 – Foot Locker, Inc. amended its secured asset-based revolving credit facility with Wells Fargo Bank, NA as agent on Tuesday, extending the maturity to July 14, 2025 and lifting commitments to $600 million, according to an 8-K filing with the Securities and Exchange Commission.
Interest is Libor plus 175 basis points to 225 bps, depending on availability. There is a 50 bps fee on the unused portion of commitments under the facility.
On Wednesday, the company repaid all revolving loans outstanding under the credit agreement.
Proceeds may be used for working capital, general corporate purposes or other permitted purposes.
Borrowings and letters of credit are not permitted to exceed a borrowing base, which is tied to the level of inventory and accounts receivable of the company and the guarantors.
Foot Locker is a New York-based specialty athletic retailer.
© 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.