Universal Electronics cuts revolving line size, extends to 2020

By Susanna Moon

Chicago, Jan. 3 – Universal Electronics Inc. amended its credit agreement on Dec. 27 with U.S. Bank NA, effective Dec. 20, to lower the revolving line of credit and extend the maturity to Nov. 1, 2020, according to an 8-K filing with the Securities and Exchange Commission.

The revolving line will be reduced to $130 million from $170 million until June 30, 2019 and to $125 million after that.

The amendment also removes Wells Fargo Bank, NA as a lender.

Universal Electronics Inc. is a technology provider and manufacturer of remote controls, IoT devices and home sensors based in Santa Ana, Calif.

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