Callaway Golf and related entities have ammended their existing credit facility to include a new $330 million multi-currency revolver.

Bank of America, N.A., as administrative agent, MUFG Union Bank, as syndication agent, SunTrust Bank, as documentation agent, Bank of America, N.A., as sole lead arranger and sole bookrunner, and each of Bank of America, N.A., Bank of America, N.A. (acting through its London branch), Bank of America, N.A. (acting through its Canada branch), SunTrust Bank, MUFG Union Bank N.A., JPMorgan Chase Bank, N.A., JPMorgan Chase Bank, N.A., London Branch and JPMorgan Chase Bank, N.A., Toronto Branch, as lenders, amended and restated this asset-based credit facility.

The Amended Facility provides a senior secured asset-based revolving credit facility of up to $330 million, comprising a $260 million U.S. facility (of which $20 million is available for letters of credit), a $25 million Canadian facility (of which $5 million is available for letters of credit) and a $45 million U.K. facility (of which $2 million is available for letters of credit).

In each case the financing is subject to borrowing base availability under the applicable facility and a senior secured term loan facility, in an amount equal to the lesser of (a) $30 million and (b) 18% of the net orderly liquidation value of the Company’s, the other Borrowers’ and the Guarantors’ trademark portfolio.