Farmer Bros. amend credit facility amid Covid-19 challenges

By Taylor Fox

Chicago, July 29 – Farmer Bros. Co. has amended its credit facility with JPMorgan Chase Bank, NA to increase its flexibility in supporting current and future business operations as the Covid-19 situation continues to evolve, according to a new release.

“The amended credit facility marks another important step in our ongoing efforts to support the business both near- and long-term,” said Farmer Bros. president and CEO Deverl Maserang in a news release. “With this added financial flexibility and our ongoing cost-cutting efforts, we believe Farmer Brothers is well-positioned to weather these challenging times.”

As Wednesday, the company said its total debt was $68.8 million and the company had cash on hand of $12 million and $21 million of availability on its amended credit facility.

Farmer Bros. is a Northlake, Tex.-based direct distributor of coffee, tea and culinary products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.