Apogee Enterprises Inc.has amended and extended its secured revolving credit facility,according to a company release.The complex plan has been expanded from$80 million to$100 million and extended five years to October 2017.It is set to replace the previous secured revolving credit facility that was set to expire in January 2014.
"The expanded credit facility,along with Apogee's strong balance sheet and expectations of improving free cash flow position us to invest in growing domestically and internationally.We plan to invest in new capabilities and new capacities,as well as to fund acquisitions,"said James S.Porter,Apogee chief financial officer."In addition,with Apogee's improving financial performance and the current attractive financial markets,we were able to refinance our revolving credit facility at better terms.We are pleased with the ongoing support we have received from our lenders."
