G-III Apparel Group amends credit agreement to replace LIBOR with SOFR benchmark

G III APPAREL GROUP LTD /DE/

Amendment No. 1 to Second Amended and Restated Credit Agreement effective April 20, 2023.
LIBO Rate replaced with Adjusted Term SOFR Rate plus spread or alternate base rate plus spread.
All other material provisions of the credit agreement remain unchanged.
Borrower representative: G-III Leather Fashions, Inc.; Administrative Agent: JPMorgan Chase.

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

G III APPAREL GROUP LTD /DE/ amended Amendment No. 1 with JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and as collateral agent and other lenders party thereto (effective 2023-04-20).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and as collateral agent and other lenders party thereto
Effective: 2023-04-20

Exact text from the filing

On April 20, 2023, G-III Leather Fashions, Inc. (the “Borrower Representative”) and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and as collateral agent and other lenders party thereto, entered into that certain Amendment No. 1 (the “Amendment No. 1”) to that certain Second Amended and Restated Credit Agreement, dated as of August 7, 2020

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Source: SEC EDGAR

accession 0001558370-23-006892

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