Clarus Corporation, a global company focused on the outdoor and consumer enthusiast markets, amended and upsized its existing senior secured credit facility jointly led by JPMorgan Chase Bank and Bank of America, with U.S. Bank, Regions Bank, Wells Fargo Bank, Texas Capital Bank and Zions Bank participating in the lender group.

Under the terms of the upsized credit agreement, Clarus has access to an increased revolving credit facility of $300 million and a $125 million term loan. The facility also includes an uncommitted accordion feature of $175 million, for a total borrowing capacity of up to $600 million. The revolving credit facility also allows for borrowings in certain foreign currencies. Generally, for U.S. dollar borrowings under the credit facility, the applicable interest rate will be based on either an adjusted SOFR rate or an alternative base rate, plus an applicable margin ranging from 1.5 percent to 2.625 percent per annum. The amended credit facility matures in April 2027.   The term loan was fully borrowed at the closing of the facility and cannot be reborrowed.

“This expansion in our credit facility strengthens our ability to pursue additional ‘Super Fan’ brands via our disciplined acquisition strategy and signifies the support of our banking partners to execute our growth plan,” said Clarus CFO Mike Yates. “We look forward to prudently using this additional capital to continue our market momentum and drive shareholder value.”