Malibu Boats draws $50 million under amended revolver

By Marisa Wong

Morgantown, W.Va., Oct. 15 – Malibu Boats Inc. borrowed $50 million under its second amended and restated credit agreement dated June 28, 2017 with SunTrust Bank as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Malibu borrowed the $50 million on Monday in connection with the closing of its acquisition of the assets of Pursuit Boats from S2 Yachts, Inc.

As previously disclosed, Malibu entered into an amendment on Aug. 21 to its credit agreement to increase the amount available under the revolving credit facility to $85 million from $35 million.

Revolving loans made under the amendment have terms and conditions identical to revolving loans under the existing credit agreement, except a ticking fee of 0.3% per annum accrued on the $50 million incremental revolving commitment until the acquisition closed on Monday.

Malibu Boats is a Loudon, Tenn., designer, manufacturer and marketer of performance sport boats.

© 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.