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Stock impact report

Key Tronic Corporation Announces New Credit Facilities

Key Tronic Corporation (KTCC) 
Last key tronic corporation earnings: 4/28 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: keytronic.com/home/investor-relations
Company Research Source: GlobeNewswire
SPOKANE VALLEY, Wash., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced that it entered into a new financing arrangement with the Bank of Montreal and Callodine Commercial Finance which extends and increases its access to working capital through December 2029. The combined financing agreement provides up to $143 million in availability, subject to the Company’s borrowing base and other limitations. The new credit agreements replace Key Tronic’s asset-based line of credit with Bank of America, which was set to expire in December 2025. In connection with these agreements, the Company expects to write off approximately $0.9 million in unamortized capitalized loan fees. “We are excited to update our financing arrangements as we prepare for growth in coming years,” said Tony Voorhees, Chief Financial Officer. “We believe the new financing significantly enhances our access to working capital ov Show less Read more
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