Movado Group entered into Amendment No. 7 to its Credit Agreement, extending its senior secured revolving credit facility to July 16, 2031 and reducing total commitments to $75 million. The amendment removes the 0.10% SOFR adjustment and increases interest margins by 0.10% per year, and keeps a $15 million letter of credit subfacility and a $25 million swingline, with an uncommitted $50 million accordion. The facility is intended to support liquidity and financial flexibility for ongoing operations and strategic needs.
Agreement details:
- Agreement type: Amendment to senior secured revolving credit facility
- Counterparty: Bank of America, as Administrative Agent, and other lenders
- Signed / Effective: Jul 16 2026 / same
- Duration / Termination: Through Jul 16 2031
- Reason: Extend maturity and maintain financial flexibility
Original SEC Filing:
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