Dick’s Sporting Goods ups revolver to $1.86 billion, lifts pricing

By Sarah Lizee

Olympia, Wash., March 31 – Dick’s Sporting Goods, Inc., Dick’s Merchandising & Supply Chain, Inc. and some subsidiaries amended their senior secured revolving credit facility on Friday with Wells Fargo Bank, NA as administrative agent, increasing commitments by about $255 million to about $1.86 billion, according to an 8-K filing with the Securities and Exchange Commission.

The facility allows the company to request an increase to the aggregate commitments under the facility to $2.1 billion, subject to existing or new lenders agreeing to provide additional revolving commitments.

The availability of the commitments is subject to conditions and borrowing base limitations, which may fluctuate.

The amendment also increased interest to Libor plus 137.5 basis points until the company elects to lower the aggregate commitments under the facility so that they no longer exceed $1.6 billion.

The amendment also adds a Libor floor of 0.75%.

Dick's is a Pittsburgh-based sporting goods retailer.

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