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 gi脿 esistenti della societ脿.
Il CEO Craig White ha dichiarato che la societ脿 sta valutando diverse soluzioni per estinguere la linea di credito, inclusa la possibile vendita o il rifinanziamento del Hilti Complex. La societ脿 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 cr茅dito con BOKF, NA, ampliando la fecha de vencimiento del pr茅stamo revolvente al 19 de septiembre de 2025. La pr贸rroga alinea el vencimiento del pr茅stamo revolvente con el de los pr茅stamos a plazo inmobiliarios existentes de la compa帽铆a.
El director ejecutivo Craig White indic贸 que la empresa est谩 estudiando varias opciones para saldar la l铆nea de cr茅dito, incluida la posible venta o refinanciaci贸n del Hilti Complex. La compa帽铆a sigue realizando los pagos programados de principal e intereses tanto del pr茅stamo revolvente como de los pr茅stamos a plazo.
Educational Development Corporation (NASDAQ: EDUC)電� BOKF, NA鞕� 觳搓舶頃� 鞁犾毄瓿勳暯鞐� 雽�頃� 鞎勴檳 氩堨Ц 靾橃爼鞎堨潉 頇曤炒頃橃棳 毽臣牍� 雽�於滌潣 毵岅赴鞚检潉 2025雲� 9鞗� 19鞚�搿� 鞐办灔頄堨姷雼堧嫟. 鞚� 鞐办灔鞚� 毽臣牍� 雽�於滌潣 毵岅赴毳� 須岇偓鞚� 旮办〈 攵�霃欖偘 旮绊暅攵� 雽�於滉臣 鞚检箻鞁滍偟雼堧嫟.
CEO 韥爤鞚搓犯 頇旍澊韸�(Craig White)電� 須岇偓臧� 毽臣牍� 霛检澑 靸來櫂鞚� 鞙勴暣 頌愴嫲 旎错攲霠夓姢鞚� 毵り皝 霕愲姅 鞛湹鞛� 臧�電レ劚鞚� 韽暔頃� 鞐煬 氚╈晥鞚� 瓴�韱犿晿瓿� 鞛堧嫟瓿� 氚濏様鞀惦媹雼�. 須岇偓電� 毽臣牍� 雽�於滉臣 旮绊暅攵� 雽�於� 氇憪鞐� 雽�頃� 鞓堨爼霅� 鞗愱笀 氚� 鞚挫瀽 歆�旮夓潉 瓿勳啀頃橁碃 鞛堨姷雼堧嫟.
Educational Development Corporation (NASDAQ: EDUC) a obtenu un neuvi猫me amendement 脿 son accord de cr茅dit avec BOKF, NA, repoussant la date d'茅ch茅ance du pr锚t renouvelable au 19 septembre 2025. Cette extension aligne l'茅ch茅ance du pr锚t renouvelable sur celle des pr锚ts immobiliers 脿 terme d茅j脿 en place.
Le PDG Craig White a indiqu茅 que la soci茅t茅 茅tudie plusieurs solutions pour rembourser la ligne de cr茅dit, y compris la vente 茅ventuelle ou le refinancement du Hilti Complex. La soci茅t茅 continue d'effectuer les paiements programm茅s de principal et d'int茅r锚ts sur le pr锚t renouvelable et sur les pr锚ts 脿 terme.
Educational Development Corporation (NASDAQ: EDUC) hat eine neunte 脛nderung ihres Kreditvertrags mit BOKF, NA abgesichert und die Laufzeit des revolvierenden Kredits bis zum 19. September 2025 verl盲ngert. Die Verl盲ngerung bringt die F盲lligkeit des revolvierenden Kredits in Einklang mit den bestehenden Immobilien-Termin-/Festdarlehen des Unternehmens.
CEO Craig White erkl盲rte, dass das Unternehmen verschiedene Optionen zur Tilgung der Kreditlinie pr眉ft, einschlie脽lich eines m枚glichen Verkaufs oder einer Refinanzierung des Hilti Complex. Das Unternehmen leistet weiterhin planm盲脽ige 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
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?
