05:03 PM EDT, 07/11/2024 (MT Newswires) -- CPI Card ( PMTS ) said late Thursday landed a $75 million secured asset-based revolving credit facility, replacing its existing credit line of the same amount.

Additionally, the company announced closing of a private offering by its wholly-owned subsidiary CPI CG of $285 million of 10% senior secured notes due 2029.

CPI CG used the net proceeds from the offering and cash on hand to redeem all of its 8.625% senior secured notes due 2026.