Fox Factory Holding closed a new credit facility that includes a five-year $250 million senior-secured revolving line of credit that will mature in June, 2024. Bank of America served as administrative agent.

This new credit facility replaces the company’s existing term loan and line of credit and increases borrowing capacity by approximately $100 million. The company expects to write off approximately $0.6 million of debt issuance costs associated with the previous facility in the second quarter of fiscal 2019 which is not currently contemplated in the Company’s second quarter and full year guidance.

“We are pleased to partner with Bank of America Merrill Lynch on this new credit facility which offers more favorable terms and greater financial flexibility than our existing arrangement. We believe the new facility will support our capital requirements for future growth enabling us to execute on our strategy,” said Zvi Glasman, FOX’s CFO.

Braselton, GA-based Fox Factory Holding designs and manufactures performance-defining products primarily for bicycles, on-road and off-road vehicles and trucks, side-by-side vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.