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Levi Strauss amends facility to extend maturity to 2022, reduce rates
By Wendy Van Sickle
Columbus, Ohio, May 26 – Levi Strauss & Co. amended and restated its credit facility with JPMorgan Chase Bank, NA as administrative agent, extending its term to May 2022 and reducing pricing, according to an 8-K filing with the Securities and Exchange Commission.
Specifically, interest was reduced to Libor plus 125 basis points to 175 bps from Libor plus 125 bps to 200 bps, depending on borrowing base availability.
The undrawn fee was reduced to 20 bps from a range of 25 bps to 30 bps.
JPMorgan Chase Bank, NA, Toronto Branch is the multicurrency administrative agent with Bank of America, NA, Wells Fargo Capital Finance, LLC and HSBC Bank USA, NA as co-syndication agents.
Deutsche Bank Securities Inc. and Goldman Sachs Bank USA are the co-documentation agents.
Levi Strauss is a San Francisco-based apparel maker.
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