Big 5, a wholly-owned subsidiary of Big 5 Sporting Goods, amended its credit agreement with Wells Fargo Bank, as administrative agent, collateral agent and swing line lender. According to a related 8-K filing, Bank of America was documentation agent.

The third amendment extended the maturity date of the credit agreement from December 19, 2018 to September 29, 2022, but did not change the $140 million aggregate committed availability under the agreement. The amount may be increased at the company’s option up to a maximum of $165 million.

The company continues to be able to request additional increases in aggregate availability, up to a maximum of $200 million, in which case the existing lenders under the credit agreement will have the option to increase their commitments to accommodate the requested increase. If the existing lenders do not exercise that option, the company may, with the consent of Wells Fargo, seek other lenders willing to provide such commitments.

The amendment includes a provision which permits the company to elect to reduce the aggregate committed availability under the credit agreement to $100 million for a three-month period each calendar year.