Rocky Brands, Inc. Enters into Fifth Amendment to ABL Loan Agreement and Enters into Sixth Amendment to Term Loan Agreement with TCW Asset Management Company LLC
November 01, 2023 at 04:22 pm EDT
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Rocky Brands, Inc. announced as previously reported, on March 15, 2021, the company and its material subsidiaries entered into an ABL Loan and Security Agreement with Bank of America, N.A. as Agent, Sole Lead Arranger and Sole Bookrunner and the other lenders from time to time party thereto, and a Loan and Security Agreement with TCW Asset Management Company LLC (as Agent for certain term loan lenders, TCW). On October 31, 2023, the Company entered into a Fifth Amendment to the ABL Loan Agreement to provide certain EBITDA adjustments with respect to its financial covenant. In addition, on October 31, 2023, the Company and TCW entered into a Sixth Amendment to the Term Loan Agreement, among other things, to provide certain EBITDA adjustments with respect to its financial covenants, adjust the performance pricing grid, and adjust the total leverage ratio periodically through June 30, 2025.
Rocky Brands, Inc. is a designer, manufacturer and marketer of footwear and apparel. It markets its products under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, The Original Muck Boot Company, XTRATUF, Ranger and the licensed brand Michelin. It operates through three segments: Wholesale, Retail and Contract Manufacturing. Its Wholesale segment distributes products through a range of distribution channels representing over 10,000 retail store locations in the United States, Canada, United Kingdom, and others. Retail segment markets directly to consumers through its Lehigh business-to-business, including direct sales and through its CustomFit Websites, consumer e-commerce Websites, third-party marketplaces, and Rocky outlet stores. Its Contract Manufacturing segment includes sales to the United States Military, private label sales and any sales to customers in which it is contracted to manufacture or source a specific footwear product for a customer.
Rocky Brands, Inc. Enters into Fifth Amendment to ABL Loan Agreement and Enters into Sixth Amendment to Term Loan Agreement with TCW Asset Management Company LLC
ROCKY BRANDS, INC. 
