Educational Development Corporation Announces Extension of Credit Agreement with BOKF
Educational Development Corporation (NASDAQ: EDUC) has secured a Ninth Amendment to its Credit Agreement with BOKF, NA, extending the Revolving Loan maturity date to September 19, 2025. The extension aligns the revolving loan maturity with the company's existing real estate term loans.
CEO Craig White indicated that the company is exploring multiple solutions to pay off the line of credit, including potential sale or refinancing of the Hilti Complex. The company continues to make scheduled principal and interest payments on both Revolving and Term Loans.
Educational Development Corporation (NASDAQ: EDUC) ha ottenuto la nona modifica al suo accordo di credito con BOKF, NA, estendendo la scadenza del prestito revolving al 19 settembre 2025. L'estensione allinea la scadenza del prestito revolving con quella dei prestiti a termine immobiliari già esistenti della società.
Il CEO Craig White ha dichiarato che la società sta valutando diverse soluzioni per estinguere la linea di credito, inclusa la possibile vendita o il rifinanziamento del Hilti Complex. La società continua a effettuare i pagamenti programmati di capitale e interessi sia sul prestito revolving sia sui prestiti a termine.
Educational Development Corporation (NASDAQ: EDUC) ha obtenido una novena enmienda a su acuerdo de crédito con BOKF, NA, ampliando la fecha de vencimiento del préstamo revolvente al 19 de septiembre de 2025. La prórroga alinea el vencimiento del préstamo revolvente con el de los préstamos a plazo inmobiliarios existentes de la compañía.
El director ejecutivo Craig White indicó que la empresa está estudiando varias opciones para saldar la línea de crédito, incluida la posible venta o refinanciación del Hilti Complex. La compañía sigue realizando los pagos programados de principal e intereses tanto del préstamo revolvente como de los préstamos a plazo.
Educational Development Corporation (NASDAQ: EDUC)는 BOKF, NA와 체결한 신용계약에 대한 아홉 번째 수정안을 확보하여 리볼빙 대출의 만기일을 2025년 9월 19일로 연장했습니다. 이 연장은 리볼빙 대출의 만기를 회사의 기존 부동산 기한부 대출과 일치시킵니다.
CEO 크레이그 화이트(Craig White)는 회사가 리볼빙 라인 상환을 위해 힐티 컴플렉스의 매각 또는 재융자 가능성을 포함한 여러 방안을 검토하고 있다고 밝혔습니다. 회사는 리볼빙 대출과 기한부 대출 모두에 대해 예정된 원금 및 이자 지급을 계속하고 있습니다.
Educational Development Corporation (NASDAQ: EDUC) a obtenu un neuvième amendement à son accord de crédit avec BOKF, NA, repoussant la date d'échéance du prêt renouvelable au 19 septembre 2025. Cette extension aligne l'échéance du prêt renouvelable sur celle des prêts immobiliers à terme déjà en place.
Le PDG Craig White a indiqué que la société étudie plusieurs solutions pour rembourser la ligne de crédit, y compris la vente éventuelle ou le refinancement du Hilti Complex. La société continue d'effectuer les paiements programmés de principal et d'intérêts sur le prêt renouvelable et sur les prêts à terme.
Educational Development Corporation (NASDAQ: EDUC) hat eine neunte Änderung ihres Kreditvertrags mit BOKF, NA abgesichert und die Laufzeit des revolvierenden Kredits bis zum 19. September 2025 verlängert. Die Verlängerung bringt die Fälligkeit des revolvierenden Kredits in Einklang mit den bestehenden Immobilien-Termin-/Festdarlehen des Unternehmens.
CEO Craig White erklärte, dass das Unternehmen verschiedene Optionen zur Tilgung der Kreditlinie prüft, einschließlich eines möglichen Verkaufs oder einer Refinanzierung des Hilti Complex. Das Unternehmen leistet weiterhin planmäßige Kapital- und Zinszahlungen sowohl auf den revolvierenden als auch auf die befristeten Darlehen.
- Regular payments being made on principal and interest for both Revolving and Term Loans
- Extension of credit agreement maturity date to September 19, 2025
- Multiple financing options being explored including sale/refinancing of Hilti Complex
- Company needs to refinance or find alternative funding sources for credit line repayment
- Potential need to sell real estate assets to manage debt obligations
Tulsa, Oklahoma--(Newsfile Corp. - August 12, 2025) - Educational Development Corporation (NASDAQ: EDUC) (the "Company") announced it has executed the Ninth Amendment ("Amendment") to the Existing Credit Agreement ("Amendment") with BOKF, NA (the "Lender"). The Amendment, effective July 11, 2025, extends the maturity date on the Revolving Loan to September 19, 2025.
Per Craig White, Chief Executive Officer, "Extending the maturity date on the revolving line of credit to September 19, 2025 is part of the ongoing process with our credit agreement. This maturity date now coincides with the maturity dates on our term loans associated with our real estate."
"We continue to work through multiple solutions to pay off our line of credit through other financing sources including the option to take the term loans through the sale or refinancing transaction of the Hilti Complex. Each month we continue to make our principal and interest payments on the Revolving Loan and Term Loans as scheduled. We are grateful for our banks dedication to working with us, and the patience they have demonstrated, as our interests remain directly aligned."
About Educational Development Corporation (EDC)
EDC began as a publishing company specializing in books for children. EDC is the owner and exclusive publisher of Kane Miller Books ("Kane Miller"); Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. EDC is also the exclusive United States MLM distributor of Usborne Publishing Limited ("Usborne") children's books. EDC-owned products are sold via 4,000 retail outlets and EDC and Usborne products are offered by independent brand partners who hold book showings through social media, book fairs with schools and public libraries, in individual homes, as well as other in-person events and internet sales.
Contact:
Educational Development Corporation
Craig White, (918) 622-4522
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262246
FAQ
What is the new maturity date for EDUC's revolving loan with BOKF?
How is Educational Development Corporation (EDUC) planning to pay off its line of credit?
Is Educational Development Corporation (EDUC) current on its loan payments?
What changes were made in EDUC's Ninth Amendment to the Credit Agreement?
