Broadwind Energy, Inc. BWEN today announced it has closed on a $20
million credit facility with AloStar Business Credit of Birmingham, Alabama.
Under the terms of the credit arrangement, Broadwind will have access to up to
$20 million based on a borrowing base secured by eligible trade receivables
and inventories. The credit facility has a three-year term, with an interest
rate of 30-day LIBOR plus 4.25%, with a 1.0% LIBOR floor. The terms of the
credit facility include financial and other covenants typical for asset-based
loans of this kind. The loan is also secured by certain of the Company's fixed
and other assets.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in