Big 5 Sporting Goods Corporation Announces Renewal of Five-Year Credit Facility

Core Viewpoint - Big 5 Sporting Goods Corporation has entered into an agreement to amend and extend its credit facility with Bank of America, which is expected to provide financial flexibility in the current retail environment and for long-term operations [1][2]. Financial Agreement Details - The new Loan Agreement has a five-year term maturing in December 2029 and includes a secured revolving credit facility with committed availability of up to $150 million [2]. - The Company can request additional increases in availability of up to$50 million, leading to a total potential availability of $200 million [2]. - Interest on loans will be based on SOFR rates or a specified base rate, with margins ranging from 1.75% to 2.125% for SOFR loans and 0.75% to 1.125% for base rate loans, subject to interest rate floors of zero [2]. Company Overview - Big 5 operates 422 stores in the western United States, offering a full-line product mix including athletic shoes, apparel, accessories, and outdoor and athletic equipment [4]. - The average store size is approximately 12,000 square feet, catering to various sports and recreational activities [4].