LOS ANGELES — Unified Grocers here said yesterday it has boosted the capacity of its revolving credit agreement to the maximum of $300 million without changing the favorable terms and conditions of its existing revolver that expires in 2012. The previous agreement made funds of $225 million to $250 million available.
Unified said it also got additional borrowing capacity from Union Bank of California, which increased its existing commitment by $10 million, and Bank of the West, which entered the credit facility with $15 million.
Al Plamann, president and chief executive officer, said Unified has no immediate plans to use the newly acquired capital, "[but] we believe it is a prudent business decision to have additional funds readily available should certain opportunities arise."
Read More of Today's Headlines