Primo Water Announces Update on Financing Initiatives; New LT $20M Senior Revolving Credit Facility
Primo Water Corporation (Nasdaq: PRMW) today announced it has received a commitment from a senior lender to enter into a new long-term $20 million senior revolving credit facility. Also, the Company expects to close a term loan for up to an additional $15 million with a separate lender, secured by certain fixed assets of the Company. The facilities are expected to have a four year term and will include customary terms and covenants, and are expected to close within 30 days. The Company expects to use the loan proceeds to pay off its existing senior credit facility and for general working capital purposes.
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