Clarus enters $100 million cash-flow credit facility with JPMorgan

By Sarah Lizee

Olympia, Wash., May 6 – Clarus Corp. terminated its asset-backed credit facility and entered into a new $100 million cash-flow credit facility with JPMorgan Chase Bank, NA, according to a press release.

Under the new facility, Clarus has access to up to a $60 million revolving credit line and a $40 million delayed-draw term loan that is available until May 3, 2020, with an additional $50 million uncommitted accordion feature.

Interest is Libor plus 150 basis points to 225 bps.

The facility matures on May 3, 2024.

Clarus is a Stamford, Conn.-based company focused on the outdoor and consumer industries.

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