Hamilton Beach/Proctor Silex amends revolver to extend tenor, reduce rates

By Sara Rosenberg

New York, June 24 - Hamilton Beach/Proctor Silex Inc., a wholly owned subsidiary of Nacco Industries Inc., amended its credit facility, extending the term of its $115 million senior secured revolver to July 31, 2009 and reducing interest rates and fees, according to an 8-K filed with the Securities and Exchange Commission Friday.

The interest rates were reduced to a range of Libor plus 100 to 200 basis points, based on leverage, and the unused commitment fee was lowered to a range of 20 to 35 basis points.

The amendment was completed on Thursday.

Wachovia is the agent on the deal.

Hamilton Beach/Proctor Silex is a Glen Allen, Va.-based manufacturer of household appliances.

© 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.