Horizon Global Seeks to Amend Credit Agreement and Reports Preliminary Second Quarter 2018 Financial Results
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 that it is seeking to amend its term loan credit agreement (the “Credit Agreement”), which governs its current $146 million senior term loan facility to, among other things, allow for up to $50 million in incremental borrowings and provide additional flexibility in its financial covenants. Horizon Global is actively engaged in organizational restructuring and business improvement activities related to its Horizon Americas and Horizon Europe-Africa segments as part of the Company’s Action Plan, which was announced on March 1, 2018. The expansion of the term loan and other modifications to the Credit Agreement will allow the Company to reduce amounts outstanding on its existing ABL revolver and continue execution of its Action Plan.
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