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Steelcase draws $250 million under revolving credit facility
By Sara Rosenberg
New York, March 24 – Steelcase Inc. borrowed $185 million under its unsecured revolving credit facility on March 18 and an additional $65 million on March 23, according to an 8-K filed with the Securities and Exchange Commission.
The borrowings have an initial rate of interest equal to 3.25% per annum.
JPMorgan Chase Bank is the administrative agent on the deal.
Steelcase is a Grand Rapids, Mich.-based office furniture manufacturer.
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