ODP (ODP) has shared an update.
On May 9, 2024, The ODP Corporation and its affiliates secured a new financial agreement, the Fourth Amended Credit Agreement, which provides a $800 million revolving loan facility with improved terms, including a reduced interest rate margin. This facility will support working capital and other corporate needs, and comes with the option to increase commitments by an additional $250 million. The loans are guaranteed by company subsidiaries and backed by a lien on various assets, with interest rates adjustable based on predefined benchmarks. The agreement includes standard covenants and default events, ensuring responsible fiscal management and operational flexibility for ODP.
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