Movado amends $100M revolver, replaces LIBOR with Term SOFR, consolidates Swiss borrower

MOVADO GROUP INC

Amendment recognizes MGI Luxury Group GmbH as sole Swiss borrower under $100M revolving credit facility.
Facility benchmark for USD borrowings switched from LIBOR to Term SOFR via early opt-in.
As of July 31, 2022, no loans drawn; $306K letters of credit outstanding; ~$99.7M availability.
Amendment consolidates prior Swiss borrowers after merger and corporate form conversion.

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