GUARANTY BANCSHARES INC /TX/: debt financing — Guaranty Bancshares extends $25M line of credit with Frost Bank through March 2024

GUARANTY BANCSHARES INC /TX/

Renewal of $25M unsecured line of credit from Frost Bank, maturing March 31, 2024.
Interest at Wall Street Journal prime rate, minimum 3.50%, floating daily, payable quarterly.
No outstanding draws on line as of March 31, 2023.
Company agreed not to pledge stock of Guaranty Bank & Trust or assets without Frost consent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GUARANTY BANCSHARES INC /TX/ amended revolving credit of $25,000,000 with Frost Bank at the prime rate published in the Wall Street Journal; provided, however, in no ev maturing March 31, 2024.

Instrument: revolving credit
Principal: $25,000,000
Counterparty: Frost Bank
Rate: the prime rate published in the Wall Street Journal; provided, however, in no ev
Maturity: March 31, 2024
Event: amendment

Exact text from the filing

On March 31, 2023, Guaranty Bancshares, Inc., (“Guaranty”) and Frost Bank extended Guaranty’s right to request and receive monies from Frost Bank on Guaranty’s existing line of credit until March 31, 2024. On that date, Guaranty executed and delivered to Frost Bank of a Renewal Revolving Promissory Note in the principal amount of $25,000,000

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Source: SEC EDGAR

accession 0000950170-23-011410

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