SHOE STATION GROUP INC (SCVL) Form 8-K — Oct 15, 2026
Shoe Station Group amended its $100 million revolving credit facility with Wells Fargo as agent, extending the maturity date to October 15, 2031. The amendment improves pricing: SOFR margins now range from 1.00% to 2.00% and Base Rate margins from 0.00% to 1.00%, both tied to the company's leverage ratio, and the 0.10% credit spread adjustment was eliminated. Commitment fees on unused capacity run 0.20%-0.30%. The company also gained flexibility, including an increased $40 million annual restricted-payment basket, up to $35 million of HQ-property-secured debt, and permission for sale-leaseback transactions on its Evansville, Indiana property.
Key figures
- Debt Amount
- $100 million revolving credit facility
- Interest Rate
- Base Rate + 0.00%-1.00% or Adjusted Term SOFR + 1.00%-2.00% based on Consolidated Total Leverage Ratio
- Maturity Date
- October 15, 2031
- Upfront fee
- 0.10% of each bank's revolving commitment
- Commitment fee
- 0.20%-0.30% per annum on unused commitments
- Ebit addback cap
- 20% of Consolidated EBITDA
- Threshold amount
- greater of $10 million and 10% of Consolidated EBITDA
- Restricted payment basket
- $40 million per fiscal year
- Hq property debt allowance
- $35 million
AI analysis
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