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MACE SECURITY INTERNATIONAL INC: Mace Security International, Inc Enters Into Revolving Credit Agreement

MACE SECURITY INTERNATIONAL INC: Mace Security International, Inc. Enters Into Revolving Credit Agreement CLEVELAND, OH / ACCESSWIRE / December 17, 2020 / Mace Security International (OTCQX:MACE) today announces that it has entered into a one-year $2.0 million Revolving Credit Agreement with Fifth Third Bank, National Association ( the Credit Agreement ) effective December 11, 2020. The Credit Agreement is secured by substantially all Company assets. The Credit Agreement provides for monthly interest payments at a rate equal to LIBOR plus 2%. Principal is due at maturity. Gary Medved, president and CEO commented though we entertained multiple term sheets, in the end we wanted to partner with Fifth Third Bank, a substantial provider of loans to companies in NE Ohio, and one of the largest national lenders . Throughout the process, Fifth Third understood the level of experience the new management team has brought to Mace, and that understanding played a large role in our final decis

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