Arctic Cat Confirms $60 Million Credit Facility
Arctic Cat Inc. finalized a new three-year, $60 million senior secured revolving credit facility with Bank of America.
MINNEAPOLIS — Arctic Cat Inc. finalized a new three-year, $60 million senior secured revolving credit facility with Bank of America.
The facility is available for the company’s ongoing working capital needs and general corporate purposes. Bank of America 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 as a strategic partner going forward.”
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