Lifeway Foods Extends Credit Agreement With CIBC Bank USA to 2029
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Lifeway Foods Inc. has amended its loan agreement with CIBC Bank USA, extending the termination date to February 5, 2029. The revised terms include modifications to the Fixed Charge Coverage Ratio, allowing up to $50 million in unfinanced capital expenditures for plant optimization and manufacturing expansion. Additionally, changes to the definition of "Change of Control" were made, ensuring certain board changes do not trigger it. Lifeway reported no outstanding borrowings under the agreement at the time of the amendment.
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