Lancaster Colony Corp. (LANC) has issued an announcement.
Lancaster Colony Corporation has entered into a new $150 million revolving credit agreement, effective March 6, 2024, with an option to increase to $225 million, replacing its previous agreement from 2020. This five-year unsecured financial arrangement allows the company to support its general corporate needs, while adhering to certain financial covenants related to interest coverage and leverage ratios. With no current borrowings, the agreement also includes standard default provisions that could accelerate repayment obligations.
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