Birk's Group Renews Credit Facilities

Birk's Group Inc BGI has entered into an amended and restated senior secured revolving credit facility with Wells Fargo Capital Finance Corporation Canada and a senior secured term loan with Crystal Financial LLC.
The amended credit facility and loan extend the maturity date of the company's existing loans from October 2022 to December 2026.
The amended credit facility maintains a C$85 million commitment, including a committed accordion of C$5 million.
The amended term loan of C$12.5 million is subordinated to the amended credit facility and bears interest at an annual rate of CDOR plus 7.75%, a reduction of 50 basis points.
Price Action: BGI shares are trading higher by 5.73% at $4.98 in premarket on the last check Wednesday.