PNC Arranges Johnson Outdoors Financing Agreement
Johnson Outdoors, a global outdoor recreation equipment company, announced a streamlined structure of the company’s debt. The new loan agreement replaces the company’s revolver and is expected to reduce annual borrowing costs. PNC Capital Markets arranged the transaction.
Key highlights of the new debt financing are:
capital needs during that period. PNC Capital Markets arranged the transaction, and PNC Bank is the lead agent of three participating lenders in this revolving credit facility.
The company’s existing term debt facility, arranged by Ridgestone Bank of Brookfield, WI, remains in effect.
“Our new credit agreement recognizes the success of our efforts to strengthen operations and deliver consistently improved financial performance, and also reaffirms the confidence of our lenders in our ability to achieve sustained, profitable growth long-term,” said David W. Johnson, vice president and chief financial officer.
Johnson Outdoors is a global outdoor recreation company that designs, manufactures and markets a portfolio of brands across four categories: watercraft, marine electronics, diving and outdoor gear.