The latest announcement is out from Apogee (APOG).
Apogee Enterprises, Inc. revamped its financial structure by entering into a new $700 million Credit Agreement on July 19, 2024, replacing its previous credit arrangements. This strategic move offers a more substantial borrowing capacity through a $450 million revolving credit facility and a $250 million term loan, with flexible prepayment options and the potential for expansion via an accordion feature. The agreement, designed to support working capital and other corporate purposes, sets forth financial covenants to maintain the company’s fiscal health. Additionally, the agreement facilitates the issuance of standby letters of credit and swingline loans, enhancing Apogee’s financial agility and operational efficiency.
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