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Unifi Completes Refinancing Enters Into New Facility

Unifi Completes Refinancing, Enters Into New FacilityUnifi Inc., Greensboro, N.C., has completed refinancing of its existing credit facilities and has entered into a new $150-million facility with Bank of America N.A.Unifi has used the facility to refinance its existing $150-million revolving credit facility and a $100-million accounts receivable securitization, as well as to finance working capital and investment needs.From December 31, 2000, to the date of the refinancing, we have reduced our borrowings by approximately $155 million, said Billy Moore, executive vice president and CFO. We will remain focused on strengthening our balance sheet by maximizing cash flows generated from sales growth, reducing operating costs, controlling capital expenditures and lowering working capital levels. January 2002