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home / news releases / NBEV - NewAge announces $12M credit facility

NBEV - NewAge announces $12M credit facility

NewAge Inc.
NewAge (NASDAQ:NBEV) entered into a new $12M revolving line of credit deal with East West Bank, which matures in Mar. 2024. NBEV used this facility to repay in full its existing outstanding loan balance of $10.6M under its 8% senior secured note with JGB Management. The remaining availability on the new facility will be used for general working capital purposes. The new line of credit bears interest at Prime plus 1.75%, and is interest-only until Mar. 2024. "This new credit facility successfully retires the $30M senior secured debt used to fund a portion of the ARIIX acquisition and enhances our liquidity profile," said NBEV interim CEO Ed Brennan.

For further details see:

NewAge announces $12M credit facility
Stock Information
Company Name: NewAge Inc.
Stock Symbol: NBEV
Market: NASDAQ
Website: www.newagebev.com
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