Compass Diversified (CODI) said Friday it has amended its credit agreement with lenders represented by Bank of America (BAC) to provide supplemental term loans of up to $300 million.
The amended agreement provides a term loan advance of $200 million and delayed-draw term loan commitments of $100 million, the company said.
The entire amended credit facility, including the incremental loans, requires quarterly repayments of $3.75 million up to $11.25 million, starting March 31. The final payment of principal and interest is due on July 12, 2027.
Compass will use the proceeds from the additional loans for new acquisitions, working capital, capital expenditures and other general corporate purposes.
Company shares were down more than 4% in recent trading.
Price: 20.90, Change: -0.99, Percent Change: -4.52
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