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Benzinga

Business

Shivani Kumaresan

Acme United Renews Loan Facility With HSBC

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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