Business
Alico, Inc. Announces Amendment to its Revolving Line of Credit with MetLife
FORT MYERS, Fla., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or “the Company”) (Nasdaq: ALCO) today announced that effective September 29, 2025, it has amended its Credit Agreement (the “Amendment”) with MetLife Investment Management, LLC for each of Metropolitan Life Insurance Company and New England Life Insurance Company (collectively “MetLife”), which, among other things, provides for $10 million of additional fixed rate borrowings. The proceeds of these borrowings were used to r
About this update from Metlife, Inc.
[{"type":"image","alt":"Alico, Inc.","displaySize":"","headline":null,"caption":"Alico, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":134,"url":"https://media.zenfs.com/en/globenewswire.com/25b8a51c291ad9fe31c23efcbc4d0d67"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/oBzaYxGAbD_DbB_a.a_XsQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE4ODtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/25b8a51c291ad9fe31c23efcbc4d0d67","width":300,"height":134}},"lazy":false},{"type":"text","content":"FORT MYERS, Fla., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or “the Company”) (Nasdaq: ALCO) today announced that effective September 29, 2025, it has amended its Credit Agreement (the “Amendment”) with MetLife Investment Management, LLC for each of Metropolitan Life Insurance Company and New England Life Insurance Company (collectively “MetLife”), which, among other things, provides for $10 million of additional fixed rate borrowings. The proceeds of these borrowings were used to retire all of the Company’s existing indebtedness with Prudential Mortgage Capital Company, LLC (“Prudential”).","length":610,"tagName":"p"},{"type":"text","content":"John Kiernan, President and Chief Executive Officer of the Company, stated, “This refinancing transaction further strengthens our balance sheet and enhances our financial flexibility by eliminating $1.16 million of annual mandatory principal payments on the Prudential debt and extending the maturity of these borrowings under the MetLife agreement to May 1, 2034. We believe the completion of this financing, combined with our existing revolving credit facility with MetLife, positions Alico with a solid capital structure to support our operations and strategic objectives. We appreciate MetLife's continued partnership and their confidence in our business as we work together to optimize our financial foundation for long-term success."","length":748,"tagName":"p"},{"type":"text","content":"About Alico","length":11,"tagName":"p"},{"type":"text","content":"Alico, Inc. (Nasdaq: ALCO) is a Florida-based agribusiness and land management company with over 125 years of experience. Following its strategic transformation in 2025, Alico operates as a diversified land company with approximately 51,300 acres across 8 Florida counties. The Company focuses on strategic land developm...