Movado Group extends credit facility maturity to 2031, reduces commitments to $75M

MOVADO GROUP INC

Maturity extended from Oct 2026 to July 2031; commitments reduced from $100M to $75M.
Interest rate margins increased by 0.10% per annum; 0.10% SOFR adjustment eliminated.
No loans drawn as of July 16, 2026; availability ~$74.7M; ~$299K letters of credit outstanding.
PNC Bank exited as lender; Bank of America remains sole lender under the facility.
Facility includes $15M letter of credit subfacility and $25M swingline subfacility.

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