Regis borrows $183 million under revolver amid current uncertainty

By Sarah Lizee

Olympia, Wash., March 19 – Regis Corp. borrowed about $183 million under its unsecured revolving credit facility on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The facility is fully drawn down now.

The company said it made the borrowing in order to increase its cash position and preserve financial flexibility in light of current uncertainty resulting from the Covid-19 outbreak.

The proceeds will be available to be used for working capital, general corporate or other purposes.

Regis is a Minneapolis owner, operator and franchiser of hair salons.

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