According to a recent announcement from US Apogee Enterprises, the company has amended and extended its secured revolving credit facility to support its strategic growth plans with an expanded facility at better terms.
Apogee Enterprises, Inc. has amended and extended its secured revolving credit facility to support its strategic growth plans with an expanded facility at better terms. The facility has been extended five years to October 2017 and expanded from USD 80 million to USD 100 million, replacing the previous secured revolving credit facility that was set to expire in January 2014.
“The expanded credit facility, along with Apogee’s strong balance sheet and expectations of improving free cash flow position us to invest in growing domestically and internationally. We plan to invest in new capabilities and new capacities, as well as to fund acquisitions,” said James S. Porter, Apogee chief financial officer. “In addition, with Apogee’s improving financial performance and the current attractive financial markets, we were able to refinance our revolving credit facility at better terms. We are pleased with the ongoing support we have received from our lenders.”
Apogee Enterprises, Inc., headquartered in Minneapolis, US, is a leader in technologies involving the design and development of value-added glass products and services.