Genesco amends credit agreement: maturity extended to 2027, margin reduced 1%

GENESCO INC

Extended maturity to Jan 28, 2027; removed $17.5M term loan.
Borrowing base expanded: in-transit inventory (≤15% of base, 75% advance rate) and real estate (up to 25%, 60% advance rate).
Seasonal inventory advance rate increased to 92.5% for four months; intellectual property excluded from collateral.
No financial covenants unless Excess Availability < $22.5M or 10% of loan cap; then fixed charge coverage ratio ≥1.0:1.0.
Applicable Margin on revolver reduced by 1.00%; replaced LIBOR with SOFR.

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