Johnson Outdoors has refinanced and restructured its debt, which should lower its borrowing costs by 40 percent next year compared with 2009. The terms include total debt availability of $84.9 million through two asset-backed credit facilities, and a revolving credit facility for up to $69 million that matures in 2012 with availability based on eligible account receivables and inventory – this is reduced to $46 million from mid-July to mid-November to account for the seasonal nature of the company’s business. There is also a long-term facility providing up to $15.9 million maturing in 15 to 25 years guaranteed by a government program. Both of the facilities have floating interest rates. The company is also working on a loan agreement related to its Canadian assets expected to be completed in the next month; this would provide $6.0 million in additional debt availability through a revolving credit facility. This will put its total combined revolving credit facilities at $75 million ($50 million from mid-July to mid-November), for a total debt availability of $90.9 million. The costs of Johnson’s debts in 2009 will total about $5.9 million; this will shrink to about $3.3 million in 2010, not including closing costs of $1.2 million.