Brown-Forman enters into five-year, US$800M credit agreement, terminates prior agreement with syndicate of lenders
November 22, 2011
– Brown-Forman Corp. has entered into a five-year, US$800 million credit agreement, at the same time terminating a prior agreement with a syndicate of lenders., The Louisville Business Journal reported Nov. 21.
The new agreement allows Brown-Forman and its subsidiaries to borrow funds on an unsecured basis through Nov. 18, 2016, according to a U.S. Securities and Exchange Commission filing.
According to the filing, the proceeds from the new agreement will be used for working capital and general corporate purposes. Additionally, it will back letters of credit that would be used for general corporate purposes.
The primary source of this article is The Louisville Business Journal, Louisville, Kentucky, on Nov. 21, 2011.