Rocky Brands Secures New $175M Credit Facility with Added Features

Rocky Brands (RCKY) just unveiled an announcement.

Rocky Brands, Inc. has replaced its existing loan arrangement with a new Amended and Restated ABL Loan and Security Agreement with Bank of America and other lenders, securing a $175 million credit line with additional features like a $50 million term loan and a $50 million accordion feature. The new agreement comes with variable interest rates and a sole financial covenant to maintain a minimum fixed charge coverage ratio. The company’s obligations under this agreement are secured by most of its domestic assets and come with standard covenants restricting certain business activities.

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