Columbia Sportswear extends credit facility maturity, adds Libor floor

By Marisa Wong

Morgantown, W.Va., May 30 – Columbia Sportswear Co. entered into a ninth amendment to its credit agreement dated June 15, 2010 with Wells Fargo Bank, NA as administrative agent and a lender and Bank of America, NA as a lender, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, effective as of May 26, modifies the definitions used to determine the applicable interest rates and extends the maturity date to July 1, 2021. Pricing is now subject to a 0% Libor floor.

The amendment also adds a schedule of lender loan commitments and amends a schedule listing commitment fees. The commitment fee ranges from 12 basis points to 27 bps.

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

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