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Burnham Holdings, Inc. (OTC-Pink: BURCA) is the parent company of leading domestic manufacturers of boilers, HVAC products, and accessories for residential, commercial, and industrial applications. The company announced changes in its funding structure, including a new revolving credit facility with a total borrowing capacity of up to $92.0 million. The new revolver is financed through Fulton Bank, N.A. and PNC Bank, N.A. and provides greater flexibility to support business operations.
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Burnham Holdings, Inc. announces new revolving credit facility
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FAQ
What is the market cap of Burnham B (BURCB)?
The market cap of Burnham B (BURCB) is approximately 75.7M.
What does Burnham Holdings, Inc. specialize in?
Burnham Holdings, Inc. specializes in manufacturing boilers, HVAC products, and accessories for residential, commercial, and industrial applications.
What recent changes did Burnham Holdings, Inc. announce in its funding structure?
Burnham Holdings, Inc. announced changes in its funding structure, including a new revolving credit facility with a total borrowing capacity of up to $92.0 million.
How is the new revolving credit facility of Burnham Holdings, Inc. financed?
The new revolving credit facility of Burnham Holdings, Inc. is financed through Fulton Bank, N.A. and PNC Bank, N.A.
What is the maturity date of Burnham Holdings, Inc.'s new revolving credit facility?
The new revolving credit facility of Burnham Holdings, Inc. matures on October 16, 2028 with no scheduled principal payments prior to maturity.
What are the interest rates on Burnham Holdings, Inc.'s new revolving credit facility?
The interest rates on Burnham Holdings, Inc.'s new revolving credit facility are set at a predefined margin rate plus one-month term Secured Overnight Financing Rate (SOFR).
How does Burnham Holdings, Inc. plan to free capacity on the new revolving credit facility?
To free capacity on the new revolving credit facility, Burnham Holdings, Inc. entered into a $3.7 million term note collateralized by certain real property.
What are the financial covenants related to Burnham Holdings, Inc.'s financing arrangements?
Burnham Holdings, Inc. is subject to certain financial covenants related to the financing arrangements, with now two covenants versus three covenants previously.
Which banks are involved in the financing of Burnham Holdings, Inc.'s new revolving credit facility?
The new revolving credit facility of Burnham Holdings, Inc. is financed through Fulton Bank, N.A. and PNC Bank, N.A.
When does Burnham Holdings, Inc.'s term note mature?
Burnham Holdings, Inc.'s term note matures on October 16, 2033 with principal and interest payments due quarterly beginning December 2023.
What is the purpose of the new revolving credit facility for Burnham Holdings, Inc.?
The new revolving credit facility for Burnham Holdings, Inc. provides greater flexibility to support business operations and working capital needs.
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