Alico, Inc. Announces Amendment to its Revolving Line of Credit with MetLife
Alico, Inc. (ALCO)
US:NASDAQ Investor Relations:
ir.stockpr.com/alicoinc/investor-home
Company Research
Source: GlobeNewswire
FORT MYERS, Fla., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico”) (Nasdaq: ALCO) announced that, effective September 17 2024, it has amended its Credit Agreement (the “Amendment”) with Metropolitan Life Insurance Company, and New England Life Insurance Company (collectively “MetLife”), which, among other things (i) increases the borrowing capacity under the revolving line of credit (the “RLOC”) from $25 million to $95 million and (ii) now extends the maturity date of the RLOC to May 1, 2034. The RLOC is secured by real property, consisting of approximately 36,800 gross acres of citrus land. In addition, in connection with the Amendment, the Company paid off its current borrowings under the $70 million working capital line of credit, subject to cancellation of its outstanding letters of credit, with Rabo Agrifinance, Inc. and replaced the Rabo Agrifinance working capital line of credit, which was due to mature on November 1, 2025. Borrowings under the RLOC bear interest at
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ALCO
News
- Alico, Inc. (NASDAQ: ALCO) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- Alico: Florida Land Value Realization [Seeking Alpha]Seeking Alpha
- Alico, Inc. (NASDAQ: ALCO) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- Alico (ALCO) Reports Q3 Loss, Lags Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Alico, Inc. Announces Financial Results for the Third Quarter and Nine Months Ended June 30, 2024 [Yahoo! Finance]Yahoo! Finance
ALCO
Earnings
- 8/5/24 - Miss
ALCO
Sec Filings
- 9/17/24 - Form 8-K
- 9/13/24 - Form 8-K
- 8/5/24 - Form 10-Q
- ALCO's page on the SEC website