Rocky Shoes & Boots gets commitments for $148 million in credit facilities

By Sara Rosenberg

New York, Dec. 16 - Rocky Shoes & Boots Inc. received financing commitments for credit facilities totaling $148 million from GMAC Commercial Finance LLC and American Capital Strategies Ltd., according to a company news release.

Proceeds will be used to fund the company's recently announced acquisition of EJ Footwear Group for $87.7 million in cash and 484,261 shares of Rocky common stock, and to replace its existing revolving credit facility.

The acquisition is expected to close in January.

Rocky Shoes & Boots is a Nelsonville, Ohio, footwear, branded apparel and accessories company.

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