Crocs to pay down revolver drawings with notes proceeds

By Sara Rosenberg

New York, March 8 – Crocs Inc. plans to repay up to $180 million of borrowings under its revolving credit facility using proceeds from a $300 million senior unsecured notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes, which may include working capital, capital expenditures, stock repurchases and acquisitions.

Crocs is a Niwot, Colo.-based casual footwear company.

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