AgroFresh has entered into an agreement with Bank of Montreal to extend its existing $12.5 million revolving credit facility to April 1, 2021.
The amendment also includes favorable revisions to the senior secured net leverage ratio. Borrowings under the revolver may continue to be prepaid in-full or in-part at any time and borrowing rates remain the same as per the existing Credit Agreement.
“This favorable amendment demonstrates the credit worthiness of AgroFresh and our team’s continuous work toward optimizing the capital structure. The revolver extension and amended terms provide financial flexibility to meet the company’s needs,” said Graham Miao, executive vice president and chief financial officer.
AgroFresh is a global innovator and provider of science-based solutions, data-driven technologies and experience-backed services to enhance the quality and extend the shelf life of fresh produce.
