Why United Natural Foods Stock Was Climbing Today
Shares of United Natural Foods (NASDAQ: UNFI) finished up 11.4% today as the company announced a renegotiation of its term loan and also seemed to benefit from a short squeeze as it was one of several heavily shorted stocks that jumped today.
United Natural Foods, a grocery wholesaler for chains like Whole Foods, said this morning that it had repriced its senior secured term loan facility, which reduced its interest rate by 50 to 75 basis points on $1.8 billion in debt due in 2026. That will save the company approximately $9 million to $13 million, and shows its debt profile is improving with lenders.
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Source Fool.com
