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Parks! America ( (PRKA) ) has provided an announcement.
Aggieland-Parks, Inc., known for its Aggieland Wild Animal Safari, successfully refinanced a previous loan with a new $2.5 million term loan from Cendera Bank at a favorable interest rate of 7.5%. This strategic financial move, which involves a 10-year term with a balloon payment at the end, allowed the company to settle its prior debt from First Financial Bank and reduce its monthly repayment amount. The new loan, backed by the safari’s assets and a cash reserve, signifies a savvy step towards optimizing the company’s capital structure.
Find detailed analytics on PRKA stock on TipRanks’ Stock Analysis page.
