Steel Partners Holdings Announces New $600 Million Credit Facility
The new credit facility consolidates a number of the company’s existing
credit facilities into one combined, revolving credit facility covering
substantially all SPLP entities, with the exception of the company’s
WebBank subsidiary. In addition to
“Proceeds will be used for general corporate purposes, including working
capital needs, and potential future acquisitions,” said
About
Forward-Looking Statements
This press release contains certain "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, that
reflect SPLP's current expectations and projections about its future
results, performance, prospects and opportunities. SPLP has tried to
identify these forward-looking statements by using words such as "may"
"should," "expect," "hope," "anticipate," "believe," "intend," "plan,"
"estimate" and similar expressions. These forward-looking statements are
based on information currently available to the company and are subject
to a number of risks, uncertainties and other factors that could cause
its actual results, performance, prospects or opportunities in 2017 and
beyond to differ materially from those expressed in, or implied by,
these forward-looking statements. These factors include, without
limitation, SPLP's future financial performance and ability to access
its lines of credit if its financial performance does not satisfy the
financial covenants set forth in its financing agreements, SPLP’s
subsidiaries need for additional financing and the terms and conditions
of any financing that is consummated, their customers' acceptance of its
new and existing products, the risk that the company and its
subsidiaries will not be able to compete successfully, the possible
volatility of the company's unit price and the potential fluctuation in
its operating results. Although SPLP believes that the expectations
reflected in these forward-looking statements are reasonable and
achievable, such statements involve significant risks and uncertainties,
and no assurance can be given that the actual results will be consistent
with these forward-looking statements. Investors should read carefully
the factors described in the "Risk Factors" section of the company's
filings with the
View source version on businesswire.com: http://www.businesswire.com/news/home/20171114006703/en/
Source:
PondelWilkinson Inc.
Roger S. Pondel, 310-279-5965
rpondel@pondel.com
