GrafTech gets $215 million amended and restated revolver

By Sara Rosenberg

New York, Feb. 10 - GrafTech International Ltd. closed on an amended and restated $215 million revolving credit facility due July 2010, according to an 8-K filed with the Securities and Exchange Commission Thursday. JPMorgan is the administrative agent on the deal.

The revolver carries an interest rate that can range from Libor plus 125 to 225 basis points and a commitment fee that can range from 37.5 to 50 basis points.

The new revolver, which closed on Tuesday, refinances the company's existing senior secured revolver.

With this new deal, the company lowered interest rates by more than 112 basis points and received less restrictive financial covenants.

Furthermore, the new revolver contains an accordion feature that allows the company to establish additional credit facilities of up to $425 million, the filing added.

GrafTech is a Wilmington, Del., manufacturer and provider of natural and synthetic graphite, and carbon-based products and services.

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