BBX Capital Corporation Obtains $50 Million Line of Credit
BLUEGREEN VACATIONS CORP (BXG)
Last bluegreen vacations corp earnings: 3/9 04:05 pm
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ir.bluegreenvacations.com
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Source: Marketwire
FORT LAUDERDALE, FL -- (Marketwired) -- 03/15/18 -- BBX Capital Corporation (NYSE: BBX)(OTCQX: BBXTB) ("BBX Capital" or the "Company") announced today that the Company and certain of its subsidiaries have entered into a Loan and Security Agreement (the "Loan") and related agreements in a Multi-Bank Facility led by IberiaBank. The facility provides for a $50 million revolving line of credit. On March 6, 2018, BBX Capital, BBX Sweet Holdings, Food for Thought Restaurant Group-Florida, LLC, BBX Capital Florida LLC and Woodbridge Holdings LLC, entered the Loan which provides for a $50 million revolving line of credit. Borrowings under the facility may be used for business acquisitions, real estate investments, stock repurchases, letters of credit and general corporate purposes. The Loan contains financial covenants, including among others, the requirement to maintain minimum unencumbered liquidity and compliance with financial ratios related to fixed charge coverage and debt to EBIT
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