Struggling watchmaker Fossil Group and Fossil Group Europe amended their credit facility with Wells Fargo as administrative agent to include a $325 million revolving credit facility and a $425 million term loan.

According to a related 8-K filing, Wells Fargo was also an issuing lender. Bank of America and JPMorgan Chase were syndication agents, and HSBC and Fifth Third were documentation agents. Wells Fargo Securities, Merrill Lynch and JPMorgan acted as joint leader arrangers and joint bookrunners.

The credit agreement expires and is due and payable on December 31, 2020. Borrowings under the revolver may be made in U.S. dollars or Australian dollars, Canadian dollars, euros, Hong Kong dollars or sterling. The foreign currency sublimit under the facility is an amount equal to 60% of the aggregate revolving credit commitments.

In connection with the credit agreement, the company and all of its domestic subsidiaries entered into a collateral agreement in favor of the administrative agent, pursuant to which the company and such subsidiaries granted liens on all or substantially all of their assets to secure the company’s obligations under the credit agreement and the other loan documents.

This credit agreement amends the company’s credit agreement dated March 9, 2015, which was scheduled to mature on May 17, 2019. As of January 29, 2018, the company had $497 million in aggregate principal amount of revolving credit loans outstanding and no term loans outstanding under the prior agreement, all of which was refinanced on January 29, 2018.