Colfax seeks revolver increase for term B paydown with amend, extend

By Sara Rosenberg

New York, Oct. 16 - Colfax Corp. held its call on Wednesday, launching an upsizing to its U.S. revolver to $500 million from $300 million, with the plan being to use the incremental availability to repay $200 million of its term loan B, according to a market source.

Also, as previously reported, the company is asking to push out the maturities on its revolver, $408.7 million term loan A-1, $380 million term loan A-2, €157.6 million term loan A-3 and €105.3 million term loan A-4 to 2018 from 2017.

With the extension, Colfax wants to lower pricing on its term A loans, with the plan being to take the A-1 and A-2 down to Libor plus 175 basis points from Libor plus 200 bps, and the A-3 and A-4 down to Euribor plus 200 bps from Euribor plus 275 bps, the source said.

Deutsche Bank Securities Inc. is the left lead on the deal.

Colfax is a Fulton, Md.-based designer, manufacturer and marketer of fluid-handling products to commercial marine, oil and gas, power generation, defense and general industrial sectors.

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