Directed Electronics cuts term loan spread by 100 basis points

By Sara Rosenberg

New York, Feb. 7 - Directed Electronics Inc. amended its credit facility, reducing the interest rate on its term loan to Libor plus 225 basis points from Libor plus 325 bps, according to a company news release.

The rate reduction is effective as of Feb. 4 and was contingent on the successful completion of the company's initial public offering and its subordinated notes being paid in full.

Directed Electronics is a Vista, Calif.-based designer and marketer of consumer branded vehicle security and convenience systems, and supplier of car and home audio, mobile video and satellite radio products.

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