Broadwind Energy Closes $20M Credit Facility - Broadwind (NASDAQ:BWEN)

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Broadwind Energy, Inc. (NASDAQ: BWEN) today announced it has closed on a $20million credit facility with AloStar Business Credit of Birmingham, Alabama.Under the terms of the credit arrangement, Broadwind will have access to up to$20 million based on a borrowing base secured by eligible trade receivablesand inventories. The credit facility has a three-year term, with an interestrate of 30-day LIBOR plus 4.25%, with a 1.0% LIBOR floor. The terms of thecredit facility include financial and other covenants typical for asset-basedloans of this kind. The loan is also secured by certain of the Company's fixedand other assets.

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