Skyline Champion draws last $38 million under revolver

By Wendy Van Sickle

Columbus, Ohio, March 23 – Skyline Champion Corp. drew the remaining $38 million of availability under its $100 million revolving credit facility last week, increasing cash availability to about $200 million, according to a press release Monday.

The company said the incremental cash from these borrowings will be used to offset the temporary working capital impacts of production shutdowns resulting from the Covid-19 pandemic and to preserve financial flexibility to continue to invest in strategic priorities.

Skyline Champion said the measures will give it the ability to serve the need for attainable housing it expects will arise from the current environment.

The company reported a strong balance sheet with no significant debt maturities until June 2023.

Formerly known as Skyline Corp., Skyline Champion is a manufactured housing company based in Elkhart, Ind.

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