Griffon extends revolver till 2019, eases some negative covenant terms

By Susanna Moon

Chicago, Feb. 14 - Griffon Corp. amended its revolving credit facility to extend the maturity date of the facility by one year to March 28, 2019, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also increases the maximum permitted consolidated leverage ratio and the maximum permitted consolidated senior secured leverage ratio; reduces the minimum permitted consolidated interest coverage ratio; and increases certain baskets for permitted debt, guaranties, liens, asset sales, foreign acquisitions, investments and restricted payments under the negative covenants.

Griffon is a New York-based diversified management and holding company.

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