La-Z-Boy draws $75 million under revolver to bolster liquidity

By Marisa Wong

Los Angeles, March 30 – La-Z-Boy Inc. said it has proactively drawn $75 million under its $150 million revolving credit facility in response to the Covid-19 crisis.

The company drew from its revolver to strengthen its financial position and preserve liquidity, in addition to having almost $200 million in cash, cash equivalents, restricted cash and investments on hand, according to a press release.

La-Z-Boy is a furniture manufacturer based in Monroe, Mich.

© 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.