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Navarre Corp. has announced details regarding a new amended credit facility it has in place with GE Commercial Finance.
New terms give Navarre a $10.0 million revolving credit facility to use for equity or asset-based acquisitions. Additionally, the company can also use $10.0 million of its existing $40.0 million revolving credit facility for such ventures. Previously the $40.0 million facility could be used only “in connection with the Navarre’s working capital needs.”
The agreement was also extended to December of 2007.
Navarre vice president and chief financial officer Jim Gilbertson added, “This provides us the financial flexibility to take advantage of synergistic opportunities that may further enhance the footprint of our Distribution Services and Publishing business segments."
