Columbus McKinnon amends revolver, lowering pricing

By Angela McDaniels

Tacoma, Wash., July 20 - Columbus McKinnon Corp. amended its revolving credit facility on Friday to lower pricing in recognition of improved market conditions, according to an 8-K filing with the Securities and Exchange Commission.

The initial interest rate is Libor plus 250 basis points, and the commitment fee is 37.5 bps.

The margin over Libor ranges from 150 bps to 275 bps, and the commitment fee ranges from 12.5 bps to 37.5 bps. Both depend on the company's total leverage ratio.

Other than an outstanding letter-of-credit balance of $18.48 million, the company has no borrowings under the revolver.

Bank of America, NA is the administrative agent.

Columbus McKinnon is an Amherst, N.Y.-based designer and manufacturer of material handling products.

© 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.