Hershey to Tap Revolver

The chocolate giant needs some scratch.
Author:
Publish date:

Hershey

(HSY) - Get Report

entered a new short-term credit agreement to establish an unsecured revolving credit facility. Under the agreement the company will borrow up to $400 million, for general corporate purposes. The agreement will expire on Sept. 15.

Hershey has a $900 million revolver, but the company expects short- term borrowings to exceed $900 million during the March-September period, due to seasonal working capital needs, share repurchases and other business activities.

This story was created through a joint venture between TheStreet.com and IRIS.