TSS (TSSI) said Tuesday that it closed a $20 million credit facility with Susser Bank to fund improvements at a leased space in Georgetown Logistics Park in Texas.
The credit facility has a five-year term and an interest rate of one month term secured overnight financing rate plus 3% per annum, according to the company.
Payments will be interest-only for up to six months followed by full amortization, TSS added.
Shares of the company were down 8.3% in recent trading.
Price: 12.44, Change: -1.12, Percent Change: -8.26
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