Samsonite International S.A. announced that, on June 7, 2021, the company entered into a further amendment to its credit agreement with certain lenders and financial institutions, and the Amendment became effective on such date. Under the Amendment, if during the period from September 30, 2021 until March 31, 2022 the company elects to use the Historical EBITDA for the purpose of calculating the maximum total net leverage ratio and minimum interest coverage ratio under the financial covenants of the amended credit agreement, the Historical EBITDA for each of the quarters ended December 31, 2020, March 31, 2021 and June 30, 2021 will be increased by an amount equal to USD 65,749,500. The Add-back Amount was determined based on the annualized run-rate fixed cost savings from the company's comprehensive cost reduction program that was implemented during 2020. The Amendment recognizes the improvements to profitability as a result of the company's significant cost reduction initiatives and further strengthens the company's financial flexibility as it continues to successfully navigate its business through the challenges from the COVID-19 pandemic. In connection with the Amendment the Group repaid US$125 million principal amount of its outstanding borrowings under its senior secured term loan A facility and also voluntarily repaid USD 100 million principal amount of its outstanding borrowings under its revolving credit facility.