Callaway ups U.S. loan commitments, cuts U.K., Canadian commitments

By Sarah Lizee

Olympia, Wash., Feb. 7 – Callaway Golf Co. amended its loan agreement with Bank of America, NA as administrative agent on Feb. 1, providing for a $30 million increase in U.S. commitments, according to an 8-K filing with the Securities and Exchange Commission.

This brings the total U.S. commitments to $290 million.

The increase is effective through May 31.

The amendment also provides for a corresponding $30 million decrease in the Canadian and U.K. commitments during the same period, decreasing the Canadian commitments by $10 million to $15 million and the U.K. commitments by $20 million to $25 million.

Callaway Golf is a Carlsbad, Calif.-based manufacturer and seller of golf clubs and golf balls, and seller of bags, accessories and apparel in the golf and lifestyle categories.

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