Pulse Electronics refinances $80 million term loans, extends to 2019

By Wendy Van Sickle

Columbus, Ohio, May 19 – Pulse Electronics Corp. said it has completed a refinancing of $80 million of its outstanding term loan facilities held by affiliates of investment funds managed by Oaktree Capital Management, LP.

In connection with the refinancing, Pulse will enter into a new $80 million term loan facility with Oaktree, according to a Thursday press release.

The interest rate on the new term loan facility will be 5%. It will mature in November 2019.

Together with its previously announced placement of $70 million of preferred stock to repay debt, Pulse said it has reduced debt by $70 million and reduced annual interest expense by over $13 million.

“These transactions provide Pulse with significant financial and operating flexibility to serve our customers and fuel our growth,” Pulse chief executive officer Mark Twaalfhoven said in the release.

San Diego-based Pulse makes precision-engineered electronic components and modules.

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