Horizon Global Announces Successful Raise of Additional Liquidity and Amendment of Its Existing Term Loan Credit Agreement
Horizon Global Corporation Common Shares (HZN)
Last horizon global corporation common shares earnings: 3/16 06:30 am
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US:NYSE Investor Relations:
investors.horizonglobal.com
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Source: Business Wire
TROY, Mich.--(BUSINESS WIRE)-- Horizon Global Corporation (NYSE: HZN), the world’s leading manufacturer of branded towing and trailering equipment, today announced the closing of a new financing agreement to provide additional liquidity and an amendment of its existing term debt agreement to relax financial covenants, including the following: $51 million new second lien term loan, providing for incremental liquidity and payment of fees Amendment to existing first lien term loan to align financial covenants with the Company’s business plans and waive financial covenants for the fourth quarter 2018 Horizon Global intends to use a substantial portion of the proceeds from the incremental borrowings to better position the Company to meet its customers’ needs for its 2019 summer selling season and provide additional operating flexibility. Carl Bizon, Horiz
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