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Birk's Group Renews Credit Facilities

Benzinga · 12/29/2021 09:21
  • Birk's Group Inc (NYSE:BGI) has entered into an amended and restated senior secured revolving credit facility with Wells Fargo Capital Finance Corporation Canada and a senior secured term loan with Crystal Financial LLC.
  • The amended credit facility and loan extend the maturity date of the company's existing loans from October 2022 to December 2026.
  • The amended credit facility maintains a C$85 million commitment, including a committed accordion of C$5 million.
  • The amended term loan of C$12.5 million is subordinated to the amended credit facility and bears interest at an annual rate of CDOR plus 7.75%, a reduction of 50 basis points. 
  • Price Action: BGI shares are trading higher by 5.73% at $4.98 in premarket on the last check Wednesday.