Global footwear company Skechers closed a new $500 million, five-year senior credit facility.

This new credit facility replaces the $250 million asset-backed credit facility that Skechers entered into in 2015, which was due to expire in June 2020.

The syndicate of lenders includes Bank of America as lead arranger and administrative agent. BofA Securities, HSBC Bank USA and JPMorgan Chase Bank were as joint lead arrangers for the facility. Additional participants in the syndicate include Bank of China, Los Angeles Branch, MUFG Union Bank, and City National Bank.

Based in Manhattan Beach, CA, Skechers designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women.