Welbilt Credit Agreement

By April 15, 2021 No Comments

NEW PORT RICHEY, Fla.— (BUSINESS WIRE)– Welbilt, Inc. (NYSE:WBT) announced today that it has completed the modification of its senior secured credit system. The credit limit for the revolving credit facility has been increased from $275 million to $400 million and its maturity has been extended to October 23, 2023. Welbilt, Inc. provides world-leading equipment and solutions to growing industry leaders, chain operators and independents. Our innovative products and solutions are based on our deep knowledge, operator visions and culinary expertise. Our award-winning product brand portfolio includes Cleveland™, Convotherm®, Crem®, Delfield®, Frymaster®, Garland®, Kolpak®, Lincoln™, Manitowoc® Ice, Merco®, Merrychef® and Multiplex®. These brands are supported by two service brands: FitKitchen®, our fully integrated kitchen system brand, and KitchenCare®, our aftermarket parts and service brand. Based in the Tampa Bay area of Florida and operating 20 production sites in North and South America, Europe and Asia, we sell through a global network of more than 5,000 distributors and distributors in more than 100 countries. We have approximately 4,800 employees and $1.6 billion in sales in 2019. For more information, see www.welbilt.com. Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Formation Reform Act of 1995. The statements contained in this press release, which are not historical facts, are forward-looking statements and include, for example, our expectations regarding the impact of COVID-19 on our business, including customer demand, supply chains and production; Our ability to meet working capital and cash requirements over the next 12 months our ability to save money through reduced strength and other cost-cutting measures; Compliance with financial commitments as part of our credit facility; our ability to obtain financial and tax benefits through the just-passed CARES Act; Future results, our full-year financial outlook; the expected impact of restructuring and other operational and strategic plans, as well as all the assumptions on which these expectations, perspectives, descriptions, objectives or plans are based.

Some of these forward-looking statements may be identified by words such as “anticipated,” “think,” “expected,” “objective,” “expected,” “forecast,” “could,” “may,” “probable,” “probable,” “on the way to delivery,” “encouraged,” “projects,” “accepted,” “accepted,” “be” or other expressions.