Libbey borrows $40 million under ABL revolver

By Wendy Van Sickle

Columbus, Ohio, March 25 – Libbey Inc. borrowed $40 million under its $100 million asset-based revolving credit facility on March 19, according to an 8-K filing with the Securities and Exchange Commission.

As of Tuesday, a total of $68.1 million was outstanding under the ABL facility, excluding $10 million in letters of credit and other reserves, with $16.3 million of remaining availability.

The current interest rate is 2.75%.

The company also announced that, in response to the Covid-19 pandemic, it has temporarily suspended or reduced operations at some of its distribution facilities in the United States.

Libbey is a Toledo, Ohio-based glassware manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.