Steven Madden amends credit facility, swaps LIBOR for BSBY, reduces margins by 75 bps

STEVEN MADDEN, LTD.

$150M revolving facility matures March 20, 2027; no loans outstanding as of March 25, 2022.
Base rate margin reduced from 100-150 bps to 25-75 bps; BSBY margin from 200-250 bps to 125-175 bps.
Commitment fee cut from 0.40% to 0.25% on unused commitment; borrowing base reporting frequency reduced when no loans are outstanding.
Interest rate benchmark replaced LIBOR with Bloomberg Short-Term Bank Yield Index (BSBY).
Amendment effective March 20, 2022; reflects improved credit terms and simplified reporting.

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