US EditionPyxus Upsizes Asset-Based Lending Facility with PNC Bank
- On May 13, 2025, Pyxus International, Inc., a global value-added agricultural company, amended its asset-based lending credit facility with PNC Bank in Morrisville, N.C.
- This amendment follows the initial establishment of the facility on February 8, 2022, and is driven by Pyxus' goal to strengthen its capital structure and improve credit terms amid ongoing financial and market risks.
- The amended agreement expands Pyxus’ borrowing capacity by $30 million, bringing the total committed credit facility to $150 million, while decreasing the annual interest spread by a quarter of a percentage point and lowering or removing multiple associated fees.
- Dustin Styons, Pyxus' interim CFO, remarked that the amendment underscores the solid relationship with PNC and reflects ongoing advancements in improving the company’s credit standing.
- This credit facility amendment increases Pyxus’ financial and operational flexibility, reinforcing its strategic approach to credit improvement while the company continues to face a range of market, regulatory, and geopolitical risks.
44 Articles
44 Articles
Johnson City Press
Pyxus Upsizes Asset-Based Lending Facility with PNC Bank
MORRISVILLE, N.C., May 13, 2025 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX) ("Pyxus" or the "Company"), a global value-added agricultural company, is pleased to announce the amendment of its asset-based lending (ABL) credit facility with PNC Bank, which was…
Pyxus Upsizes Asset-Based Lending Facility with PNC Bank - PressReach
MORRISVILLE, N.C., May 13, 2025 /PRNewswire/ — Pyxus International, Inc. (OTC Pink: PYYX) (“Pyxus” or the “Company”), a global value-added agricultural company, is pleased to announce the amendment of its asset-based lending (ABL) credit facility with PNC Bank, which was initially established February 8, 2022. As part of the amendment, the Company will have access to increased borrowing availability, lower interest rates and fees in the credit a…
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