debt
confidence high
sentiment neutral
materiality 0.50
Weyco Group amends credit facility: maturity extended, limit raised to $50M, LIBOR replaced with SOFR
WEYCO GROUP INC
- Maturity extended to September 28, 2023; borrowing limit increased from $40M to $50M.
- LIBOR replaced with one-month term SOFR plus 145 basis points.
- Facility secured by general business assets; maintains minimum tangible net worth covenant.
- No other material changes to credit agreement terms.