Steelcase draws $250 million under revolving credit facility

By Sara Rosenberg

New York, March 24 – Steelcase Inc. borrowed $185 million under its unsecured revolving credit facility on March 18 and an additional $65 million on March 23, according to an 8-K filed with the Securities and Exchange Commission.

The borrowings have an initial rate of interest equal to 3.25% per annum.

JPMorgan Chase Bank is the administrative agent on the deal.

Steelcase is a Grand Rapids, Mich.-based office furniture manufacturer.

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