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Arctic Cat completes $60M credit facility
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MINNEAPOLIS - Snowmobile and all-terrain vehicle maker Arctic Cat Inc. said Thursday it finalized a three-year, $60 million senior secured revolving credit facility.
Proceeds will be used toward the company's ongoing working capital needs and general corporate purposes.
Bank of America structured and underwrote the facility, which replaces the existing credit facility that expires in March 2010.
Shares of Arctic fell 17 cents, or 2.4 percent, to $6.92 in afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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