ArborGen Holdings Limited announced the renegotiation and extension of its revolving credit facility agreement with Synovus Financial Corporation (Synovus) relating to a $17 million letter of credit (LOC) facility in the US. The amendment extended the term of the LOC from 31 August 2021 to 31 August 2023. As part of the amendment to the agreement, Synovus has also agreed to - increase the annual 60-day (continuous) pay down maximum borrowing limit to $10 million, from $7.5 million previously, and release the final $2 million of restricted cash Synovus previously required as part collateral for the LOC facility. The interest rate applicable to the LOC is the 30-day London Inter-bank Offered Rate (LIBOR) base rate plus 2.75% with a minimum annual rate of 3.5%.