Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Paydowns > Headlines for Altisource Solutions Sarl > News item |
Rogers draws $125 million from $265 million restated credit facility
By Marisa Wong
Madison, Wis., Jan. 22 – Rogers Corp. borrowed $125 million under its existing amended and restated secured credit agreement on Jan. 15, according to an 8-K filing with the Securities and Exchange Commission.
The amended credit agreement provides for borrowings up to $265 million, which consists of up to $165 million of revolving loans and a $100 million term loan.
The borrowing bears interest at an initial rate of 1.9375%, which is based on one-month Libor plus a spread of between 175 basis points and 250 bps, with the actual spread determined by the company’s leverage ratio.
All borrowings are due and mature on July 13, 2016, but the company may prepay at any time.
Rogers entered into the amended credit agreement with JPMorgan Chase Bank, NA as administrative agent, HSBC Bank USA, NA, RBS Citizens, NA, Fifth Third Bank and Citibank, NA to fund a portion of its previously announced acquisition of Arlon LLC and its subsidiaries, other than Arlon India (Pvt) Ltd.
The Rogers, Conn.-based company focuses on worldwide markets that support high technology applications, such as cellular base stations and antennas, handheld wireless devices, satellite television receivers, wind and solar energy applications and hybrid, including electric, vehicles.
© 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.