Deckers enters $200 million revolving facility at Libor plus 125 bps

By Aleesia Forni

Columbus, Ohio, Sept. 7 - Deckers Outdoor Corp. entered into a $200 million secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Aug. 30.

The facility contains a $50 million sublimit for the issuance of letters of credit, as well as a $5 million sublimit for swingline loans.

The company has the option to increase the facility by $100 million.

Pricing on the revolver will range from 125 basis points to 150 bps, with an initial rate of Libor plus 125 bps.

Commitment fees range from 20 bps to 30 bps, with an initial rate of 20 bps.

Funds under the facility may be used for general corporate purposes and working capital.

These funds are available until August 2016.

J.P. Morgan Securities LLC and Comerica Bank are joint lead arrangers. J.P. Morgan Securities LLC is the sole bookrunner.

JPMorgan Chase Bank NA is administrative agent, and Comerica Bank and HSBC Bank USA NA are syndication agents.

Deckers is a Goleta, Calif.-based footwear company.

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