USA: Brown Shoe Completes New Credit Agreement
Brown Shoe Company, Inc (NYSE: BWS) today announced the completion of a new $165m revolving bank credit facility with several banks. The three-year facility provides $165m in committed working capital and letter of credit financing subject to certain borrowing tests. It can be extended for two additional years. It replaces an existing $155m revolving credit line that was to expire January 2001. The new revolving credit facility is provided by a syndicate of eight banks and was arranged by Banc One Capital Markets, Inc. Agent banks for the facility include Bank One, N.A., Bank of America, N.A. and LaSalle Bank National Association. Interest on borrowings under the new credit agreement is at varying rates and at the company's option based on one of the following: the LIBOR rate, the Bank One, N.A. corporate base rate, or the Federal funds rate.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Trump and the apparel industry – Infographic
- Apparel factory auditing is in the firing line
- How US border adjustment tax could affect apparel
- British Brexit plans prioritise tariff-free trade
- NRF 2017 – Technology key to shopper experience
- Brands need to tackle Turkey factory refugee abuse
- New project to digitalise European fashion chains
- JC Penney to roll out hundreds of Nike "shops"
- Patagonia launching circular economy platform
- Auditing "in need of reinvention" says new project
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global apparel markets: product developments and innovations, October 2016
- Global market review of lingerie – forecasts to 2022