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FIGS gets $100 million five-year revolver at Libor plus 112.5 bps
Chicago, Sept. 10 – FIGS, Inc. signed a new $100 million five-year revolving credit facility on Sept. 7 with Bank of America, NA as lender, according to an 8-K filed with the Securities and Exchange Commission.
Interest will accrue at Libor plus 112.5 basis points.
The commitment fee is 17.5 bps.
Proceeds are available for working capital and general corporate purposes.
With the signing of the new agreement, FIGS terminated its previous agreement for $75 million from Dec. 2, 2020 with JPMorgan Chase Bank, NA.
FIGS is a health care apparel brand based out of Santa Monica, Calif.
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