WOLVERINE WORLD WIDE INC / DE /: entering into a material definitive agreement, creating a direct financial obligation or obligation under a registrant’s off-balance sheet arrangement, financial statements and supporting documents (Form 8- K)
Item 1.01 Conclusion of a Material Definitive Agreement.
The Amendment amended and updated the Credit Agreement to, inter alia: (i) provide for a Term Loan Facility A (the “Term Facility”) in an aggregate principal amount of
Loans under the senior credit facilities bear interest at a variable rate equal to either (i) the applicable base rate or (ii) LIBOR, increased in each case by an interest margin determined by the ratio of Total net leverage of the Company, with a base rate range of margins of 0.125% to 1,000%, and a range of LIBOR margins of 1.125% to 2,000%. Commitment fees for unused capacity of the revolving facility are at a rate (also based on total net leverage) ranging from 0.150% to 0.300%.
The maturity date of the loans under the senior credit facilities has been extended to
Certain other changes have been made to the terms of the Senior Credit Facilities, including changes providing greater flexibility to the Company with respect to certain covenants.
The foregoing summary is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed attached as Exhibit 10.1 and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under a
Off-Balance Sheet Arrangement of a Registrant
The information presented in section 1.01 of this current report is incorporated by reference in section 2.03.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits: 10.1 2021 Replacement Facility Amendment and Reaffirmation Agreement, dated as of
October 21, 2021among the Company, the Additional Borrowers party thereto, the Guarantors party thereto, JP Morgan Chase Bank, N.A., as administrative agent and as a lender, and the other lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document contained in Exhibit 101) 2
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