Thomasville / GA. (ff) Flowers Foods Inc. announced it amended and extended its existing 500 million USD senior unsecured revolving loan facility. The amendment provides for a new five-year term and modest improvements in the company´s drawn and undrawn pricing under the credit facility. The amended credit facility includes a one-year maturity extension option, and permits Flowers to request additional commitments up to an aggregate of 700 million USD upon the satisfaction of certain conditions. Borrowing availability under the credit facility may be used for working capital and general corporate purposes, including capital expenditures, acquisition financing, refinancing of indebtedness, dividends, and share repurchases. «Amending and extending the credit facility improves our capital structure, providing a solid debt capital base and continued source of liquidity», said R. Steve Kinsey, executive vice president and chief financial officer. «This amendment to our credit facility positions us to take advantage of an assortment of opportunities as we work to achieve our expansion goals».
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