Designer Brands Inc. entered into a Third Amendment to its Credit Agreement on February 27, 2026, reducing the FILO Facility maximum commitment from $30 million to $29.5 million, extending the maturity date of the Credit Facilities to the earlier of February 27, 2031 or the senior secured term loan maturity, and removing the SOFR credit spread adjustment.
Key takeaways
Entered Third Amendment to Credit Agreement dated March 30, 2022 on February 27, 2026 with The Huntington National Bank as Administrative Agent.
ABL Facility maximum principal amount remains $600 million subject to Aggregate Borrowing Base.
FILO Facility maximum commitment reduced from $30 million to $29.5 million; once repaid, cannot be reborrowed.
Maturity date of Credit Facilities extended from March 30, 2027 to earlier of February 27, 2031 or maturity of senior secured term loan dated June 23, 2023.
Term SOFR credit spread adjustment removed; other interest rates unchanged.
Company agreed to comply with timelines for transitioning payment processing service provider.