Under Armour amends credit facility, extends maturity to Dec 2026 and reduces margins

Under Armour, Inc.

Revolving credit facility of $1.1B unchanged; maturity extended to Dec 3, 2026 from Mar 8, 2024.
Interest margins lowered: alternate base rate range 0.00%-0.75%, term/risk-free rate range 1.00%-1.75%.
Commitment fees on unused amount reduced to 0.15%-0.25% from prior grid.
Collateral and guarantee requirements fall away upon achieving investment-grade rating from two agencies.
SOFR adopted as replacement for LIBOR benchmark for USD borrowings.

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