Rocky Brands amends loan, reducing revolver size, extending maturity

By Sara Rosenberg

New York, April 3 - Rocky Brands Inc. amended its credit facility, downsizing the revolver to $85 million from $100 million and extending the maturity to April 30, 2012 from Jan. 5, 2010, according to an 8-K filed with the Securities and Exchange Commission on Friday.

In addition, pricing was increased so that it can now range from Libor plus 300 basis points to 375 bps based on leverage.

The amendment was completed on March 31.

GMAC Commercial Finance LLC is the administrative agent on the deal.

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

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