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Thor Industries Repaying $250 Mln Loan Amid Increased Confidence In Outlook

Recreational vehicles maker Thor Industries, Inc. (THO) announced Friday that it is repaying the $250 million strategically borrowed from its Asset Based Loan facility at the outset of the COVID-19 pandemic, out of an abundance of caution and given the lack of clarity on the duration or the severity of the pandemic. It is now being repaid based on increased confidence in its outlook.

Looking ahead, the company believes that the current environment will provide it the opportunity to introduce even more people to the life-long benefits the RV-life style offers. The third quarter results were certainly negatively impacted by COVID-19, it added.

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