Rabobank, Wells Increase Nutraceutical Credit Line
Nutraceutical International announced that it has closed on an amended revolving credit facility, with Rabobank continuing as lead bank under the facility. Wells Fargo will also remain as a lender and is currently Nutraceutical’s primary U.S. commercial banking partner.
This amended credit facility extends the term of the line of credit to November 2019, increases the ongoing commitment from $90 million to $100 million and provides an additional accordion feature to increase the commitment up to $130 million, subject to certain conditions.
Bill Gay, chairman and chief executive officer, commented, “We are pleased to renew our revolving credit facility with Rabobank and Wells Fargo. We have well-established relationships with these banks and they are knowledgeable about our business and our industry. This credit facility provides us with continued flexible financing to pursue our long-term business strategy.”
Nutraceutical is an integrated manufacturer, marketer, distributor and retailer of branded nutritional supplements and other natural products sold primarily to and through domestic health and natural food stores.