trending Market Intelligence /marketintelligence/en/news-insights/trending/072-NFWY9Vb7e0Z6FMbaYQ2 content esgSubNav
In This List

CTI Industries secures $24M credit facility

Case Study

A Sports League Maximizes Revenue from Media Rights

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity


CTI Industries secures $24M credit facility

Illinois-based consumer products manufacturer CTI Industries Corp. and its subsidiaries Flexo Universal S. De R.L. De C.V. and CTI Supply Inc. on Dec. 14 entered into an agreement with PNC Bank NA for a new credit facility worth $24 million, the company said Dec. 18.

The facility includes a $6 million term loan and an $18 million revolver due December 2022. Repayment of the term loan will be in 60 monthly installments of $100,000 beginning Dec. 31, the company said.

CTI intends to use the loans to repay its $17 million debt to BMO Harris Bank NA and BMO Private Equity (U.S.) Inc. and for the purchase of capital equipment.