Dixie Group gets $84.6 million amended and restated credit facility

By Sara Rosenberg

New York, Oct. 24 - The Dixie Group Inc. closed on a roughly $84.6 million amended and restated credit facility due May 11, 2013 on Friday, according to an 8-K filed with the Securities and Exchange Commission.

Bank of America is the agent on the deal.

The facility consists of a $14.6 term loan and a $70 million revolver.

Pricing can range from Libor plus 200 basis points to 325 bps, depending on leverage.

The commitment fee on the revolver can range from 25 bps to 37.5 bps, based on leverage.

The facility has no ongoing financial covenants.

With the amendment and restatement, the monthly term loan principal installments were decreased to $125,500 from $142,450.

Dixie is a Chattanooga, Tenn.-based manufacturer, marketer and seller of carpets and rugs to residential and commercial customers.

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