Bank of America, N.A. enters into amended and restated credit agreement in favour of TOMS Shoes

October 31, 2014

Client: Bank of America, N.A.

On October 31, 2014, TOMS Shoes, LLC, as borrower; its parent company, TOMS Shoes Holdings II, LLC; and certain of their US, Canadian, and Dutch affiliates, as guarantors (collectively, TOMS Shoes) entered into refinancing arrangements which included an amendment and restatement of their existing financing agreement, comprising an aggregate of US$60 million revolving, letter-of-credit, and swingline facilities. Bank of America, N.A. acted as Administrative Agent, Collateral Agent, Letter-of-Credit Issuer and Swingline Lender for a lending syndicate that includes Jeffries Finance LLC.

TOMS Shoes, founded in 2006 by US entrepreneur Blake Mycoskie, is a designer, retailer and wholesaler of footwear and eyewear. Its marketing strategy highlights the corporate donation of one pair of shoes to a child in need in a developing country for every pair of shoes that it sells. In addition, it provides prescription glasses, medical treatment and/or sight-saving surgery to children in need with each eyewear purchase. Revenue for the 12-month period ended June 30, 2014 was approximately US$407 million. Concurrently with the closing of the amended and restated facilities granted by Bank of America, N.A., as Administrative Agent, TOMS Shoes entered into a term loan credit facility for the aggregate amount of approximately US$306 million, with Jeffries Finance LLC acting as administrative agent.

Bank of America, N.A. was represented by Norton Rose Fulbright (Arnold Cohen and Victoria Everett in Canada and by Martijn Hubertse, Gijs van Leeuwen and Duco Blijdenstein in the Netherlands)