The Dixie Group Announces New Senior Credit Facility

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Nov 02, 2020
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DALTON, GA / ACCESSWIRE / November 2, 2020 / The Dixie Group, Inc. (NASDAQ:DXYN) today announced the successful negotiation of a $75 million, five year, senior secured revolving credit facility with Fifth Third Bank National Association providing for borrowing based on percentages of values of the Company's accounts receivable and inventory, and secured by a first priority interest in the Company's accounts receivable and inventory. Maturing five years from the date of close, the Fifth Third facility will replace the Company's current secured credit facility with Wells Fargo Finance scheduled to mature in 2021. Availability under the new arrangement will be approximately $45 million as of October 30, 2020.