Columbia Sportswear Company entered into a new Credit Agreement on March 19, 2026, providing a $500 million unsecured revolving credit facility maturing March 19, 2031, for working capital and general corporate purposes, and terminated its prior Credit Agreement dated July 12, 2022, with no outstanding loans. This refinances liquidity with updated terms including a funded debt ratio covenant of 3.75 to 1.00.
Key takeaways
Entered Credit Agreement on March 19, 2026 with JPMorgan Chase Bank, N.A. as Administrative Agent and lenders
$500 million unsecured revolving credit facility with letter of credit sublimit
Maturity date March 19, 2031; interest at SOFR plus 1.00%-1.50% or base rate plus 0.00%-0.50% based on funded debt ratio
Financial covenant: funded debt ratio <= 3.75 to 1.00, with cash netting permitted
Restrictions on dividends/share buybacks over $200 million annually if funded debt ratio >= 3.25 to 1.00
Terminated Prior Credit Agreement dated July 12, 2022; no outstanding loans, letters of credit transferred