Winnebago increases credit facility commitments to $192.5 million

By Sarah Lizee

Olympia, Wash., Oct. 23 – Winnebago Industries Inc. and subsidiaries Winnebago of Indiana, LLC and Grand Design RV, LLC entered into an amended and restated credit agreement on Tuesday, lifting commitments by $27.5 million to $192.5 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also extends the maturity date to Oct. 22, 2024.

Interest is Libor plus 125 basis points, and the commitment fee is 25 bps.

The credit agreement contains affirmative and negative covenants.

JPMorgan Chase Bank, NA is the bookrunner, lead arranger and administrative agent. BMO Harris Bank NA is the syndication agent.

Winnebago is a Forest City, Iowa-based manufacturer of recreational vehicles.

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