Crocs enters credit facility agreement with PNC Bank for up to $30 million

Crocs enters credit facility agreement with PNC

NIWOT, Colo. — Crocs Inc. has secured up to $30 million in revolving loans under a new credit agreement with PNC Bank, the company said Wednesday.

The company said it entered into a new asset-backed revolving credit facility on Sept. 25. The financing provided by PNC Bank, a member of The PNC Financial Services Group Inc., will be used for working capital needs and other items.

Shares of Crocs added 12 cents to $6.77 in after-hours trading, after falling 12 cents to close at $6.65.