Legacy Housing boosts credit facility by 66% to $70M
Apr. 01, 2020 2:03 PM ETLegacy Housing Corporation (LEGH)LEGHBy: Liz Kiesche, SA News Editor
- Legacy Housing (LEGH -4.6%) closes on a new four-year credit agreement that replaces one due to expire on May 11 and increases its borrowing base to $70M from $45M.
- Lowers interest rate to one-month LIBOR + 2.00%.
- "The new agreement will provide the company with operational liquidity at extremely competitive rates, and provides room for the continued growth of our business and financial flexibility," said CFO Cornelius "Cork" Van Den Handel.