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Benzinga
Benzinga
Business
Shivani Kumaresan

Whole Earth Brands Boosts Credit Facility

FREE Earth Nasdaq
  • Whole Earth Brands Inc (NASDAQ:FREE) has completed an amendment, effective June 15, 2022, to its amended and restated credit agreement with its lenders.
  • The agreement reflects a $50 million increase in the company's revolving credit facility from $75 million to $125 million.
  • The agreement also replaces LIBOR with SOFR as the reference interest rate. 
  • "We believe that the additional financial flexibility afforded to us through the upsized revolver will allow us to continue our profitable growth journey while preserving ample liquidity," said CFO Duane Portwood.
  • Price Action: FREE shares closed lower by 5.46% at $6.23 on Thursday.
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