WD-40 borrows additional $80 million under revolving line

By Wendy Van Sickle

Columbus, Ohio, March 27 – WD-40 Co. drew an additional $80 million this week under its line of credit agreement with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The additional borrowings bring the balance drawn on the revolver to $149 million, or nearly the full $150 million amount.

The company said it does not have current need for the liquidity but decided to draw the $80 million to ensure future liquidity given the state of the global financial markets.

WD-40 is a San Diego maker of lubricants, hand cleaners and household cleaners.

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