Movado extends $100M revolver maturity to 2026, reduces LIBOR floor to zero

MOVADO GROUP INC

Amendment No. 3 extends $100M senior secured revolver from Oct 2023 to Oct 2026.
LIBOR floor reduced from 1% to zero; commitment fee cut by 0.05% when net leverage >0.75x.
General investment basket raised to $35M/year with up to $20M unused carryforward.
Up to $25M of unrestricted US cash netted in consolidated net leverage calculation.
As of Oct 28, 2021, no loans drawn and ~$307K in letters of credit outstanding; availability ~$99.7M.

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