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Fifth Third Bank Extends Revolving Credit Facility for Mace Security International

August 08, 2022, 07:05 AM
Filed Under: Specialty Industries

Mace Security International, a globally recognized leader in personal safety products, extended its Revolving Line of Credit with Fifth Third Bank effective July 29, 2022. The Credit Agreement is secured by substantially all Company assets and matures on May 30, 2023. The Credit Agreement provides for monthly interest payments at a floating rate per annum equal to the SOFR plus 2.00% through and including November 30, 2022 and 2.50% from and after December 1, 2022.

Sanjay Singh, Chairman and CEO commented "The early extension of an additional six months to its existing line of credit aids the value maximization being pursued by Mace's board of directors. This extension provides working capital for the various revenue generating opportunities that the company is pursuing in the back half of 2022 and first half of 2023".

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