Rocky Brands expands revolver to $175 million, amends term loan

By Marisa Wong

Los Angeles, Dec. 15 – Rocky Brands, Inc. entered into a first amendment on Dec. 10 to its ABL loan agreement with Bank of America, NA as agent, lead arranger and bookrunner to increase the revolving credit facility by $25 million to $175 million, according to an 8-K filing with the Securities and Exchange Commission.

After June 10, the revolver will be reduced to $165 million.

After the increase and subsequent decrease, the company’s uncommitted accordion will be in the amount of $35 million.

In addition, on Dec. 10 the company entered into a first amendment to its term loan agreement with TCW Asset Management Co. LLC as agent to, among other things, consent to the increase and decrease in the revolver, amend reporting requirements and adjust the performance pricing grid for the period beginning Dec. 10 through and including June 10.

Rocky Brands is a Nelsonville, Ohio-based designer, manufacturer and marketer of footwear.

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