Colfax gets five-year $750 million term loan, $1 billion revolver

By Susanna Moon

Chicago, June 5 – Colfax Corp. obtained a $750 million term loan and a revolving credit facility with $1 billion of commitments, each due in five years, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into a credit agreement Friday with Deutsche Bank AG, New York Branch as administrative agent, swingline lender and global coordinator.

The revolver contains a $50 million swingline loan sub-facility.

Interest on the loans will be Libor plus 150 basis points, with a spread ranging from Libor plus 125 bps to 200 bps based on the company’s credit ratings.

Proceeds will be used to repay the company’s senior secured credit facility, as well as for working capital and general corporate purposes.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.