St. Louis-based building-products distributor Huttig will extend for five years an existing senior secured credit facility worth $120 million while amending it to allow its amount to be increased to $160 million through an uncommitted $40 million accordion feature subject to certain conditions, the company announced Thursday. The company says it will use the amended facility to improve borrowing capacity and take advantage of growth opportunities.
The company also announced Thursday the repurchase of 1 million shares of common stock at $1.10 per share from its largest stockholder, The Rugby Group, marking an improvement in the company’s financial performance and liquidity. Read the full announcement.
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