Fleetwood increases, extends credit facility

New York, May 17 - Fleetwood Enterprises, Inc. said it increased its revolving credit facility by $20 million to $150 million and extended the maturity for a further three years.

The facility was previously due to expire in July.

The Riverside, Calif. manufacturer of recreational vehicles and manufactured housing noted that thanks to improved terms its availability under the facility increased by $30 million.

Bank of America is administrative agent.

The facility has closed and will now be syndicated.

Proceeds will be used to support letters of credit and for other general corporate purposes.

The facility is secured by substantially all of Fleetwood's, except certain real estate, finance receivables and inventories and the cash value of company-owned life insurance.

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