Allbirds signs for amended $50 million credit facility with accordion

Chicago, April 19 – Allbirds, Inc. amended and extended its existing credit agreement with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission regarding the April 17 amendment.

The committed amount is now $50 million, a $10 million raise.

The uncommitted accordion is likewise higher, now $50 million from $35 million.

The interest rate margin has gone up 50 basis points. Interest is now SOFR plus 10 bps CSA and a margin of 175 bps to 200 bps, based on availability.

The commitment fee is 20 bps.

The maturity date is now April 17, 2026 instead of Feb. 20, 2024.

JPMorgan is the lender.

San Francisco-based Allbirds is a retailer of wool shoes for men and women.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.