H&R Block unit draws full $2 billion available under revolver

By Sarah Lizee

Olympia, Wash., March 26 – H&R Block, Inc. subsidiary Block Financial LLC drew down the entire $2 billion available under its five-year senior unsecured revolving credit facility on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

H&R Block said the draw was made to increase its cash position and maximize flexibility in light of the current uncertainty surrounding the impact of the coronavirus pandemic.

The tax preparation and financial services company is based in Kansas City, Mo.

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