TORONTO (Oct. 9)—AirBoss of America Corp. has closed a fixed-rate long-term debt financing of $30 million, the company announced. Proceeds from the loan will provide $8.9 million in additional capital to support increasing sales and to retire existing debt of $21 million, the company said. The loan, which bears interest at 7.64 percent, is repayable in monthly principle payments of $250,000 plus a final principle payment at the end of five years of $15.2 million. AirBoss' current available line of credit of $27 million will remain intact.
Airboss closes debt financing deal
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