UNDER ARMOUR, INC. On January 22, 2016, Under Armour, Inc. amended its existing Credit Agreement, dated May 29, 2014, as amended by Amendment No. 1, dated March 17, 2015, by and among the company as borrower, JPMorgan Chase Bank, N.A., as administrative agent and the other lenders party thereto. The second amendment to the Credit Agreement increased revolving credit facility commitments available under the Credit Agreement from $800.0 million to $1.25 billion.
Simultaneously with entering into the Amendment, the company borrowed $138.75 million under the revolving credit facility to repay in full the balance of the $150.0 million term loan borrowing originally borrowed in March 2015. Following Amendment No. 2 and the related repayment, the company has $515.0 million of revolving credit loans and $211.3 million of term loans outstanding under the Credit Agreement, as amended.
The Amendment also extended the term of the revolving credit facility and the remaining outstanding term loans under the Credit Agreement from May 29, 2019 to January 22, 2021. Under the Amendment, revolving and/or term loan borrowings may be increased by up to $300.0 million in aggregate, subject to certain conditions as set forth in the Credit Agreement, as amended. Incremental borrowings are uncommitted and the availability thereof will depend on market conditions at the time the company seeks to incur such borrowings.
