SAN FRANCISCO (dpa-AFX) - Farmer Bros. Co. (FARM) announced it has entered into a new, three year $85 million revolving line of credit facility with Wells Fargo Capital Finance, part of Wells Fargo & Company (WFC). The credit facility replaces the Company's existing $50 million facility, also with Wells Fargo Capital Finance, which was due to expire in March, 2012.
The credit facility is available for general corporate purposes. Combined with the Company's existing cash balances and its preferred stock portfolio, this borrowing capacity significantly increases Farmer Brothers' financial resources for both working capital and growth, the company said.
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