Oxford Industries amends $235 million revolver, extends until 2018

By Susanna Moon

Chicago, Nov. 25 - Oxford Industries Inc. obtained a $235 million revolving credit facility on Nov. 21 with SunTrust Bank as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The company amended its credit agreement, extending the maturity date to Nov. 21, 2018 from June 14, 2017 and easing restrictions.

Interest on the loans is initially Libor plus 175 basis points, with the spread ranging from Libor plus 125 bps to 175 bps based on average availability.

The spread was reduced by 25 bps or 50 bps, depending on excess availability under the facility.

Oxford Industries is an Atlanta-based apparel design, sourcing and marketing company.

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