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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.
See more data about ODP stock on TipRanks’ Stock Analysis page.
