General Cable reduces credit agreement commitments to $700 million

By Angela McDaniels

Tacoma, Wash., Nov. 15 – General Cable Corp. permanently reduced the commitments under its credit agreement by $300 million, according to an 8-K filing with the Securities and Exchange Commission.

The remaining maximum aggregate commitments total $700 million, $441 million of which may be borrowed by General Cable Industries, Inc., $49 million of which may be borrowed by General Cable Co. Ltd. and $210 million of which may be borrowed by Silec Cable SAS, Norddeutsche Seekabelwerke GmbH, Grupo General Cable Sistemas, SL.

The reduction became effective on Tuesday and was applied ratably among the lenders in accordance with their commitments.

JPMorgan Chase Bank, NA is the administrative agent.

General Cable is a Highland Heights, Ky.-based producer of copper, aluminum and fiber optic wire and cable 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.