NN draws down $60 million under revolver amid virus uncertainty

By Sarah Lizee

Olympia, Wash., April 6 – NN, Inc. drew down $60 million under its senior secured revolving credit facility in March, according to an 8-K filing with the Securities and Exchange Commission.

The company said the draw was made in light of uncertainty associated with the ongoing coronavirus pandemic and to increase liquidity.

As of Thursday, the outstanding borrowings under the revolver totaled $60 million.

The revolver matures on July 20, 2022.

NN is a Johnson City, Tenn.-based maker of high precision metal bearing components.

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