ROCKY BRANDS, INC. (RCKY): debt financing — Rocky Brands amends term loan facility; pays $240K fee, adjusts covenants through 2025

ROCKY BRANDS, INC.

Fourth Amendment to Term Loan Agreement with TCW Asset Management Company LLC dated May 9, 2023.
Adjusts EBITDA definitions, total debt calculation, and total leverage ratio covenants through March 31, 2025.
Borrowers pay $240,000 initial amendment fee; conditional $120,000 fee based on June 30, 2023 leverage ratio.
Conditions include no default, representations true; post-closing ABL loan amendment due by May 31, 2023.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ROCKY BRANDS, INC. amended term loan with TCW Asset Management Company LLC.

Instrument: term loan
Counterparty: TCW Asset Management Company LLC
Event: amendment

Exact text from the filing

On May 9, 2023, the Company and TCW entered into a Fourth Amendment to the Term Loan Agreement (“Term Loan Amendment”), among other things, to provide certain EBITDA adjustments with respect to its financial covenants, adjust the method to calculate total debt, continue certain weekly reporting requirements, adjust ratio requirements for the total leverage ratio periodically through March 31, 2025, continue certain pricing terms, extend certain prepayment terms, and pay such lenders certain amendment fees.

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Source: SEC EDGAR

accession 0001437749-23-013593

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