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Benzinga
Benzinga
Business
Shivani Kumaresan

Acme United Renews Loan Facility With HSBC

HSBC ACU NYSE
  • Acme United Corp (NYSE:ACU) said it has renewed and increased its loan facility with HSBC Bank N.A.
  • The agreement provides for borrowings up to $65 million (an increase of $15 million) at an interest rate of SOFR (Secured Overnight Financing Rate) of 1.75%.
  • The loan facility will expire on May 31, 2026.
  • The company had outstanding borrowings of $40.2 million under the revolving loan agreement with HSBC as of March 31, 2022.
  • The facility is expected to provide liquidity for growth, share repurchases, dividends, acquisitions, and other business activities.
  • Price Action: ACU shares closed lower by 1.06% at $32.60 on Tuesday.
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