Culp Inc. Extends Credit Facility with Wells Fargo to $30 Million, Maturing in 2028

Reuters
17 Jun
Culp Inc. Extends Credit Facility with Wells Fargo to $30 Million, Maturing in 2028

Culp Inc. has announced the entry into a significant agreement with Wells Fargo Bank, National Association, extending its asset-based revolving credit facility (ABL Facility) through a Third Amendment to its Second Amended and Restated Credit Agreement. The extension prolongs the facility's term by three years, now maturing on June 12, 2028. The ABL Facility, which supports revolving credit loans and letters of credit, maintains a maximum principal amount of $30 million with the potential to increase by up to $10 million upon mutual agreement through an accordion feature. This agreement aims to provide Culp Inc. with continued financial support for fees, working capital, and general corporate purposes.

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