Thor Industries borrows $250 million under ABL credit facility

By Sarah Lizee

Olympia, Wash., March 25 – Thor Industries, Inc. borrowed $250 million under its $750 million asset-based credit facility with JPMorgan Chase Bank, NA as administrative agent on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The company said it made the borrowing as a precautionary measure to secure its liquidity position and provide financial flexibility given uncertain market conditions as a result of the Covid-19 outbreak.

Thor may use the proceeds for working capital and general corporate purposes.

Thor Industries is an Elkhart, Ind.-based manufacturer of recreational vehicles.

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