Crocs has increased the size of a planned private placement from $300 million to $350 million, giving an indicative March 12 date for its closing. The placement consists of senior notes with a coupon rate of 4.250 percent due in 2029. Crocs said that it would set aside $180 million to repay outstanding loans under a revolving credit line. The rest would be used for general corporate purposes. Before Crocs’ decision to expand the debt offering, Moody’s gave a B1 rating to the notes. Standard & Poor’s gave a BB- issuer credit rating to the company as well as the notes. Both rating agencies estimated that Crocs’ debt/Ebitda ratio would grow to 1.5 times from 1.1 times after the notes are issued. Moody’s said that the company has a history of “erratic” Ebitda performance, but felt that the current management has carried out a successful turnaround, putting Crocs on the right track with a conservative financial strategy.