Alico Amends Its Credit Agreement With MetLife; Increases Borrowing Capacity Under Revolving Line Of Credit From $25M To $95M, Extends Maturity Date To May 1, 2034
Portfolio Pulse from Benzinga Newsdesk
Alico has amended its credit agreement with MetLife, increasing its borrowing capacity under the revolving line of credit from $25 million to $95 million and extending the maturity date to May 1, 2034.
September 17, 2024 | 9:13 pm
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Alico has significantly increased its borrowing capacity from $25M to $95M and extended the credit maturity date to 2034, enhancing its financial flexibility.
The increase in borrowing capacity and extension of the maturity date provide Alico with greater financial flexibility, which is likely to be viewed positively by investors. This could lead to a short-term positive impact on the stock price.
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