Johnson Outdoors has changed some terms of its credit agreements and says it will cut its borrowing costs for next year by more than 15 percent. Among the changes are extension of the debt agreements through November 2014, versus previous termination in September 2012; elimination of the LIBOR floor resulting in a lower interest rate; an option for an additional $25 million in financing availability under the existing conditions of the agreements; and relaxed terms regarding permitted acquisitions.
