Brief: HNI Corp Enters Into A Debt Financing Commitment Letter And Related Fee Letter

HNI

10/03/2023 23:25

March 10 (Reuters) - HNI Corp  HNI.N :
    * HNI CORP - IN CONNECTION WITH ENTRY INTO MERGER AGREEMENT,
ON
MARCH 7, CO ENTERED INTO A DEBT FINANCING COMMITMENT LETTER AND
RELATED FEE LETTER
    * HNI CORP - IF DEAL WITH CO TERMINATED BY KIMBALL, KIMBALL
WILL
BE REQUIRED TO PAY CO A TERMINATION FEE OF $15.8 MILLION
    * HNI CORP - COMMITMENT PARTIES COMMITTED TO PROVIDE CO WITH
DEBT
FINANCING OF $440 MILLION IN FORM OF SENIOR UNSECURED 364-DAY
BRIDGE LOAN FACILITY
    * HNI CORP - IF DEAL TERMINATED BY CO, CO WILL BE REQUIRED
TO PAY
KIMBALL A TERMINATION FEE OF $24.3 MILLION

Source: (shorturl.at/btzU5)
Further company coverage:  HNI.N 

 ((Reuters.Briefs@thomsonreuters.com;))