Daily News: March 20, 2017

KeyBank Extends S&W Seed Borrowing Period


S&W Seed entered into a third amendment to its credit and security agreement dated September 22, 2015, with KeyBank.

According to a related 8-K filing, the amendment further extends the temporary period during which the company may borrow, repay and re-borrow up to $30 million in the aggregate under the credit facility until April 21, 2017; and retroactively and temporarily allows for over-advances, beyond amounts otherwise available based on the borrowing base calculations under the credit agreement: (a) of up to $3.5 million during the period from March 8, 2017 through March 10, 2017, (b) of up to $5 million during the period from March 11, 2017 through March 17, 2017, (c) of up to $6 million during the period from March 18, 2017 through March 24, 2017, (d) of up to $7 million during the period from March 25, 2017 through March 31, 2017 and (e) of up to $8.5 million during the period from April 1, 2017 through as late as April 20, 2017.