Wells Arranges CSS Industries Revolver
CSS Industries renewed its revolving credit facility with Wells Fargo Bank and Citizens Bank of Pennsylvania. The revolving credit facility was structured and arranged by Wells Fargo.
With the renewal, the facility’s expiration date has been extended from March 17, 2016 to March 16, 2020. Borrowing availability under the revolving credit facility will continue to fluctuate from a low of $50,000,000 during times when the Company historically has seasonally lower working capital to a maximum level of $150 million during the Company’s historical peak seasonal working capital periods.
CSS is a consumer products company primarily engaged in the design, manufacture, procurement, distribution and sale of all occasion and seasonal social expression products, principally to mass market retailers.