Monitor for potential sale-leaseback of the Evansville property or new headquarters financing, which could unlock cash. The increased restricted-payment basket signals potential for higher dividends or buybacks, but no commitment has been made.
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Executive Summary
Shoe Station Group amended its $100 million revolving credit facility with Wells Fargo and Bank of America, extending the maturity to October 15, 2031, and revising pricing terms. The amendment also increases the annual restricted-payment basket to $40 million, permits up to $35 million of secured debt for a new corporate headquarters, and allows sale-leaseback of its Evansville, Indiana property. This is a routine refinancing and covenant refresh that improves financial flexibility without new borrowing.
Key Financial Metrics
Key Facts
- Maturity extended to October 15, 2031 on $100 million revolving credit facility
- Annual restricted-payment basket increased to $40 million
- Up to $35 million of secured debt permitted for new corporate headquarters
- Sale-leaseback of Evansville, Indiana property permitted
- SOFR credit spread adjustment of 0.10% eliminated from interest rate calculation
- Threshold amount for certain defaults set at greater of $10 million or 10% of Consolidated EBITDA
- Upfront fee of 0.10% of each bank's commitment paid to lenders
Financial Impact
No new debt drawn; facility size unchanged at $100 million. Interest rate margins unchanged (1.00%-2.00% SOFR, 0.00%-1.00% Base Rate). Commitment fees unchanged (0.20%-0.30%).
Risk Factors
- No financial data provided — cannot assess whether the company is near leverage covenant limits
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-422982 |
| Document: shoe-20261015.htm | 0001193125-26-422982 |
| Document: 0001193125-26-422982-index-headers.html | 0001193125-26-422982 |
| Document: 0001193125-26-422982-index.html | 0001193125-26-422982 |
| Document: 0001193125-26-422982.txt | 0001193125-26-422982 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 8-K | $13.76 | awaiting T+20 | — | $14.25 (+3.56%) |
Sep 10, 2026 6w ago | 8-K | $12.28 $13.06 | ▼ −6.35% | ▼ −4.23% | $14.25 (−16.04%) |
US Market Status
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