Pyxus International Inc. Expands Asset-Based Lending Facility with PNC Bank, Secures Additional $30 Million in Funding

Reuters05-14

Pyxus International Inc. Expands Asset-Based Lending Facility with PNC Bank, Secures Additional $30 Million in Funding

MORRISVILLE, N.C., May 13, 2025 - Pyxus International Inc. has announced an amendment to its asset-based lending $(ABL)$ credit facility with PNC Bank. Initially established in February 2022, the amended agreement enhances Pyxus' borrowing capabilities by increasing the facility size to $150 million, with an additional $30 million in funding. The amendment also reduces the interest rate margin by 25 basis points annually, and cuts or eliminates several fees, thereby boosting Pyxus' financial and operational flexibility. The extended maturity date and reduced costs reflect the company's strategic approach to credit improvement, underscoring a robust partnership with PNC Bank. Dustin Styons, Pyxus' interim CFO, highlighted the strengthened capital structure and reinforced commitment to maintaining a disciplined financial strategy.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pyxus International Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: CL86902) on May 13, 2025, and is solely responsible for the information contained therein.

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Expands Asset-Based Lending Facility with PNC Bank, Secures Additional $30 Million in Funding\n    \n\n        MORRISVILLE, N.C., May 13, 2025 - Pyxus International Inc. has announced an amendment to its asset-based lending $(ABL)$ credit facility with PNC Bank. Initially established in February 2022, the amended agreement enhances Pyxus' borrowing capabilities by increasing the facility size to $150 million, with an additional $30 million in funding. The amendment also reduces the interest rate margin by 25 basis points annually, and cuts or eliminates several fees, thereby boosting Pyxus' financial and operational flexibility. The extended maturity date and reduced costs reflect the company's strategic approach to credit improvement, underscoring a robust partnership with PNC Bank. 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