Loan & DebtMay 26, 2026, 04:18 PM
Urban Outfitters Extends $350M Credit Facility to May 2031
AI Summary
Urban Outfitters Inc. and certain domestic subsidiaries entered into the fifth amendment to their credit agreement, extending the maturity date of their $350 million senior secured revolving credit facility to May 2031. The amendment also removes the Canadian Borrowing Base and Canadian Sublimit, releasing URBN Canada Retail, Inc. from its obligations and associated liens. The facility continues to be available for working capital and general corporate purposes, secured by U.S. assets.
Key Highlights
- Urban Outfitters extended its $350 million senior secured revolving credit facility to May 2031.
- The Fifth Amendment removes the Canadian Borrowing Base and Canadian Sublimit.
- URBN Canada Retail, Inc. has been released from its obligations and associated liens.
- The credit facility provides loans and letters of credit up to $350 million.
- Funds from the facility can be used for working capital and general corporate purposes.
- The facility is secured by a first-priority interest in inventory, accounts receivable, and other assets of the Company and its U.S. subsidiaries.
- Aggregate Availability must not be less than $225,000,000 for the amendment to be effective.
Price Impact
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