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Article: Arctic Cat Announces New Senior Credit Facility Agreement.
- Article from:
- Business Wire
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS -- Arctic Cat Inc. (NASDAQ: ACAT) announced today that it finalized a new three-year, $60 million senior secured revolving credit facility. The facility is available for the company's ongoing working capital needs and general corporate purposes. Bank of America, N.A., structured and underwrote the new facility, which replaces an existing credit facility that expires in March 2010.
"Securing this credit facility provides us with the flexibility to achieve our strategic objectives and grow Arctic Cat's business," said Christopher Twomey, Arctic Cat's chairman and chief executive officer. "We are pleased with the agreement and with having Bank of America ...