Performance Sports Group Ltd., a leading developer and manufacturer of high performance sports equipment and apparel, announced that it has executed amendments to its asset-backed revolving credit facility and secured term-loan credit facility that provide the Company with, among other things, a 60-day extension to file its Annual Report on Form 10-K, including its annual audited financial statements for the fiscal year ended May 31, 2016 and the related management's discussion and analysis (collectively, the "Annual Filings"). As a result of the amendments, the Annual Filings and the Company's first quarter filings must be filed or provided to the lenders by October 28, 2016.

Bank of America is named as the administrative agent on the ABL Credit Agreement as indicated an 8-K SEC filing.

The amendments also grant the company with continued access to borrowings under its revolving credit facility, which provides it with liquidity to fund operations as the company continues to operate its business and serve its customers in the ordinary course.

The company has agreed to increase the applicable margin by 1.5% (of which 1% is payable in kind) under the term loan credit facility and by 0.5% under the revolving credit facility, subject to certain levels of leverage and availability.

The company also announced that its Board of Directors has formed a special committee comprised of independent directors, and such committee has retained Centerview Partners LLC as its independent financial advisor to assist in the review and evaluation of strategic alternatives and in the Company's ongoing discussions with its lenders.