Naked Wines plc (GB:WINE) has released an update.
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Naked Wines plc has finalized a new $60 million credit facility with PNC Bank, offering increased liquidity and reduced interest costs compared to its previous arrangement with Silicon Valley Bank. The five-year agreement promises greater operational flexibility, including a single financial covenant that will only be tested if liquidity falls below $12 million. This financial move is expected to bolster the company’s ability to invest in its mission of connecting wine drinkers with independent winemakers.
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