Big 5 Sporting Goods Corporation Announces New Credit Agreement

Big 5 Sporting Goods Corporation

today announced it has entered into a new credit agreement, arranged by Wells Fargo Capital Finance, with Wells Fargo Bank, as Administrative Agent and Collateral Agent, Bank of America, as Documentation Agent, PNC Bank and Union Bank. The new credit agreement provides for a revolving credit facility with aggregate availability of up to $140 million, which amount may be increased at the option of the Company up to a maximum of $165 million. The Company may also request additional increases in aggregate availability, which the lenders have the option to provide, up to a maximum of $200 million. The credit facility includes a $50 million sublimit for the issuance of letters of credit and a $20 million sublimit for swingline loans. In each case, the availability will be subject to a borrowing base calculation under the agreement.