WASHINGTON (dpa-AFX) - Crocs, Inc. (CROX) announced that the company has entered into an amendment to its amended and restated credit agreement, expanding the existing $70M line of credit set to expire in December 2016 with a five year $100M revolving line of credit.
This includes a 50 basis point reduction in interest rates over the existing line of credit, the company noted.
'The amendment to our credit agreement allows us to take advantage of historically low interest rates and provides us with additional financial capability to execute our strategic and capital allocation plans,' stated Jeff Lasher, Chief Financial Officer of Crocs, Inc.
Copyright RTT News/dpa-AFX