Plexus Secures $500M Revolving Credit Facility, Extendable to $750M, Maturing 2031
PLXS has more than doubled off its 52-week low of $115.35.
Summary
Plexus Corp. has entered into a second amended and restated credit agreement, establishing a revolving credit facility with a maximum commitment of $500 million, which can be increased to $750 million. This facility matures on June 5, 2031. This news follows an 8-K filing earlier today that disclosed the securing of this extended credit facility. The new credit line provides significant financial flexibility and liquidity for the company, especially in light of increased debt levels noted in its last 10-Q.
At the time of this announcement, PLXS was trading at $282.29 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $7.6B. The 52-week trading range was $115.35 to $292.33. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.