CTI Industries announces new financing and banking relationship [Seeking Alpha]
Yunhong CTI Ltd. (CTIB)
US:NASDAQ Investor Relations:
ctiindustries.com/investor-relations
Company Research
Source: Seeking Alpha
CTI Industries announces new financing and banking relationshipCTI Industries Corporation (NASDAQ:CTIB) entered into a Credit Agreement with PNC BANK, NATIONAL ASSOCIATION under which the Bank extended to the Company a credit facility in the aggregate amount of $24M.The facility includes a Revolving Credit Facility of up to $18M and a Term Loan Facility of $6M.The loan will mature in December 2022.Proceeds of the loans will be utilized for the repayment of all outstanding loan obligations of the Company to BMO Harris and BMO Private Equity in the aggregate amount of ~$17M, for working capital purposes, and for the purchase of capital equipment.Press ReleaseClick to subscribe to real-time analytics on CTIBNow read:Ruby Tuesday board rejects Boaz Group offer »
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