Mine Safety lifts facility to $300 million, adds MSA unit as guarantor

By Susanna Moon

Chicago, Nov. 21 - Mine Safety Appliances Co. amended its credit agreement effective last Friday, boosting the size to $300 million, reducing some costs and extending the agreement for another year, according to an 8-K filing with the Securities and Exchange Commission.

The facility was increased from $250 million, and the facility will now mature in November 2016.

The limit on intercompany loans was raised to $50 million from $25 million, and the letter-of-credit limit was raised to $20 million from $15 million.

MSA International, Inc., a wholly owned domestic subsidiary, was added as a guarantor.

PNC Bank, NA is administrative agent, JPMorgan Chase Bank, NA is syndication agent, and PNC Capital Markets LLC is lead arranger.

Mine Safety is a Pittsburgh company that develops, manufactures and supplies products that protect people's health and safety.

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