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SMALL BUSINESS
Trex refinances revolving credit facility
AP ONLINE
posted: 22 DAYS 1 HOUR AGO
WINCHESTER, Va. (AP) — Building supplies maker Trex Co. said Friday it refinanced its revolving credit facility.
The company said the new $85 million credit facility matures at the end of 2011 and can be extended a year under certain conditions.
As part of the refinancing, the company said, it paid off $5 million in real estate loans with BB&T Co. with available cash. The new line was provided by BB&T and TD Bank N.A.
Trex said it hasn't borrowed on the line yet.
The company makes decking and fencing from composite materials as an alternative to wood.
Shares rose 19 cents to close at $17.30.
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