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BRIEF-Lakeland Industries says entered into loan agreement with Suntrust Bank
2017年5月16日 / 晚上8点14分 / 4 个月前

BRIEF-Lakeland Industries says entered into loan agreement with Suntrust Bank

May 16 (Reuters) - Lakeland Industries Inc

* On May 10, 2017, Lakeland Industries Inc entered into loan agreement with Suntrust Bank - SEC filing

* Loan agreement provides co with secured $20 million revolving credit facility, which includes a $5 million letter of credit sub-facility

* Company may request from time to time an increase in revolving credit loan commitment of up to $10 million

* Credit facility matures on May 10, 2020

* Term loan payable in equal monthly principal installments of $13,125 each, beginning on June 1, and on first day of succeeding month

* Final payment of remaining principal and interest on May 10, 2020

* Loan and security agreement, dated June 28, 2013 terminated upon receipt by Alostar Bank of Commerce of payoff amount of about $3 million

* Borrowings under term loan bear interest at interest rate determined by reference whether loan is base rate loan or eurodollar loan Source text for Eikon: (bit.ly/2qoYaNJ) Further company coverage:

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