Wolverine Worldwide has raised its senior secured credit facility by $300 million to $950 million, comprising a term loan of $450 million and a $500 million revolving credit. The new credit agreement negotiated with company's lenders also extends the maturity date of the facility. It lowers the cost of servicing the company's debt and the cash required in the next three years. It provides for a more flexible use of cash for the repurchase of shares and other purposes, including possible new acquisitions.
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