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Winnebago Industries, Inc. (NYSE:WGO) reported that it has completed repricing its Term Loan B facility of $260 million. The new pricing comes at an interest rate of London Interbank Offered Rate (LIBOR) plus 3.5% in comparison to the previous interest rate of LIBOR plus 4.5%.
Notably, Winnebago Industries also revised its asset-based lending facility (ABL) of $125 million with a reduced interest rate of LIBOR plus 1.25-1.75%. While the previous ABL interest rate was LIBOR plus 1.5-2%.
The company is a major manufacturer of recreational vehicles (RV) and other associated products and services. Some of its products are motorhomes, travel trailers, fifth wheel products and toy haulers. Winnebago Industries distributes its products through dealerships in the United States and Canada.
Winnebago Industries, Inc. Price and Consensus
Price Performance
In the last three months, shares of Winnebago Industries have outperformed the industry it belongs to. The stock has surged 48% compared with the industry’s gain of 33.8% during the period.
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