Kaman Corporation has closed on a new five-year $500m credit facility replacing its prior $317.5m credit facility. The facility includes a collateralized security agreement and carries a standard financial covenant package, which the company believes reflects current market terms and conditions. The facility consists of a $400 million revolving credit facility and a term loan of $100m. The new facility includes an accordion feature that allows the company to increase the aggregate amount available to up to $700m with additional commitments from lenders; consisting of a $100m revolving credit component, and a $100m term loan component. The initial interest rate for borrowings under the facility will be LIBOR plus 150 basis points.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada