Topgolf Callaway temporarily boosts ABL facility by $50M to $450M through June 15, 2023

Callaway Golf Co

Maximum facility amount increased from $400M to $450M during the Increased Commitment Period (Feb 15 – Jun 15, 2023).
U.S. revolver sublimit raised by $50M to $390M for that period; other country sublimits unchanged.
Seventh Amendment to ABL agreement executed Feb 14, 2023; borrowing base availability still applies.
Reallocation of Maximum Country Facility amounts effective concurrently with the amendment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Callaway Golf Co amended Seventh Amendment with Bank of America, N.A., as administrative agent and as security trustee valued at from $400,000,000 to $450,000,000 (effective 2023-02-14).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent and as security trustee
Value: from $400,000,000 to $450,000,000
Effective: 2023-02-14

Exact text from the filing

On February 14, 2023, the Company entered into an amendment to the ABL Agreement (the “Seventh Amendment” and, the ABL Agreement as amended by the Seventh Amendment, the “Amended ABL Agreement”), which among other things, temporarily increases the maximum aggregate principal amount of the senior secured asset-based revolving credit facilities under the Amended ABL Agreement from $400,000,000 to $450,000,000

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Callaway Golf Co filing history →

Source: SEC EDGAR

accession 0001193125-23-042051

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