Brief: Arlo Technologies - On Oct 27, Co Entered Loan, Security Agreement With Bank Of America, N.A., As Lender

Arlo Technologies

29/10/2021 22:27

Oct 29 (Reuters) - Arlo Technologies Inc  ARLO.N :
    * ARLO TECHNOLOGIES - ON OCT 27, CO ENTERED LOAN, SECURITY
AGREEMENT WITH BANK OF AMERICA, N.A., AS LENDER
    * ARLO TECHNOLOGIES INC - CREDIT AGREEMENT PROVIDES FOR A
THREE-YEAR REVOLVING CREDIT FACILITY THAT MATURES ON OCTOBER 27,
2024
    * ARLO TECHNOLOGIES - BORROWINGS UNDER CREDIT FACILITY ARE
LIMITED
TO LESSER OF $40.0 MILLION, AND AN AMOUNT EQUAL TO BORROWING
BASE
    * ARLO TECHNOLOGIES INC - CREDIT AGREEMENT ALSO INCLUDES A
$5.0
MILLION SUBLIMIT FOR THE ISSUANCE BY THE LENDER OF LETTERS OF
CREDIT
    * ARLO TECHNOLOGIES - CREDIT AGREEMENT INCLUDES UNCOMMITTED
ACCORDION FEATURE
    * ARLO TECHNOLOGIES INC - NO AMOUNTS HAD BEEN DRAWN UNDER
THE
CREDIT FACILITY AS OF OCTOBER 29, 2021
    * ARLO TECHNOLOGIES - ACCORDION FEATURE ALLOWS CO TO REQUEST
LENDER INCREASE REVOLVING LOAN COMMITMENTS BY UP TO AN
ADDITIONAL $25.0 MILLION IN AGGREGATE

Source text: [ID: https://bit.ly/319dliJ]
Further company coverage:  ARLO.N 

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