Fox Factory Secures $710 Million in Amended Credit Agreement with Wells Fargo and Lenders
Reuters
Oct 28
Fox Factory Secures $710 Million in Amended Credit Agreement with Wells Fargo and Lenders
Fox Factory Holding Corp. has entered into a Fifth Amendment to its Credit Agreement and a Second Amendment to its Guaranty and Security Agreement with Wells Fargo Bank, National Association, as administrative agent, and a group of lenders. Under the amended agreement, Fox Factory borrowed $710 million, comprising a $537.5 million term loan and $172.5 million under a revolving credit facility. The proceeds were used to repay previous outstanding amounts and for general corporate purposes. The new agreement provides for a term loan to be repaid in quarterly installments and a revolving credit facility of up to $500 million, with additional incremental loan capacity under certain leverage conditions. All outstanding amounts under the agreement are due by October 24, 2030.
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