Columbia Sportswear ups revolver to $125 million, draws $100 million

By Sarah Lizee

Olympia, Wash., April 1 – Columbia Sportswear Co. amended its credit agreement with Wells Fargo Bank, NA as administrative agent on March 26, lifting the revolver to $125 million through Dec. 31, according to an 8-K filing with the Securities and Exchange Commission.

On March 27, the company borrowed $100 million under the credit agreement. The company had previously borrowed $25 million under the agreement.

Proceeds from the draw will be used for working capital and general corporate purposes.

The increased cash position resulting from the borrowings allows for greater financial flexibility in light of current uncertainty in the global markets resulting from the Covid-19 outbreak, the company said.

The outerwear and sportswear company is based in Portland, Ore.

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