---
schema_version: "secwatch.filing_event.v1"
accession: "0001334036-23-000146"
form_type: "8-K"
ticker: "CROX"
cik: "0001334036"
company_name: "Crocs, Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T01:10:25.521879+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Crocs refinances $1.18B term loans, extends maturity to 2029 at lower margins

## Summary
- New $1.18B 2029 term loan tranche replaces all outstanding loans under Feb 2022 credit agreement.
- Interest rate reduced: Term SOFR + 3% or Alternate Base Rate + 2%, down from prior spreads.
- Amendment executed Aug 8, 2023 with Citibank as administrative agent and subsidiary guarantors.

## SEC filing metadata
- accession: 0001334036-23-000146
- form_type: 8-K
- ticker: CROX
- cik: 0001334036
- company_name: Crocs, Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1334036/000133403623000146/0001334036-23-000146-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1334036/000133403623000146/crox-20230808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001334036-23-000146
- JSON: https://secwatch.observer/filing/0001334036-23-000146.json
- Plain text: https://secwatch.observer/filing/0001334036-23-000146.txt

## Key facts
- Debt Financings
  Crocs, Inc. incurred term loan of $1.18 billion with Citibank, N.A., as administrative agent at Alternate Base Rate plus 2% and Adjusted Term SOFR Rate plus 3% maturing 2029.
  - Instrument: term loan
  - Principal: $1.18 billion
  - Counterparty: Citibank, N.A., as administrative agent
  - Rate: Alternate Base Rate plus 2% and Adjusted Term SOFR Rate plus 3%
  - Maturity: 2029
  - Event: incurrence
  source text: The Amendment (i) provides for a new $1.18 billion tranche of term loans maturing in 2029 (the “2023 Refinancing Term Loans”) and (ii) reduces the interest rate margins applicable to the approximately $1.18 billion outstanding under the term loan B facility such that each term loan borrowing which is (1) an alternate base rate borrowing will bear interest at a rate per annum equal to the Alternate Base Rate (as defined in the Term Loan B Credit Agreement), plus 2%, and (2) a term benchmark borrowing will bear interest at a rate per annum equal to (a) the Adjusted Term SOFR Rate (as defined in the Term Loan B Credit Agreement), plus (b) 3%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1334036/000133403623000146/0001334036-23-000146-index.htm
- Material Agreements
  Crocs, Inc. amended Refinancing Amendment with Citibank, N.A., as administrative agent valued at $1.18 billion (effective 2023-08-08).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent
  - Value: $1.18 billion
  - Effective: 2023-08-08
  source text: On August 8, 2023, Crocs, Inc. (the “Company”), the subsidiary guarantors party thereto and Citibank, N.A., as administrative agent (the “Administrative Agent”), entered into a Refinancing Amendment (the “Amendment”) to the Term Loan Credit Agreement, dated February 17, 2022, among Crocs, Inc., the lenders from time to time party thereto and the Administrative Agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1334036/000133403623000146/0001334036-23-000146-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.