Hexcel talks with banks to refinance revolver prior to 2010 maturity

By Sara Rosenberg

New York, April 27 - Hexcel Corp. has begun discussions with its banks to refinance its $125 million revolving credit facility, according to a 10-Q filed with the Securities and Exchange Commission on Monday.

The revolver matures on March 1, 2010 and the expectation is that the refinancing will be completed sometime this year.

In addition, the company said that based on its current outlook for interest rates, pricing on a new deal will likely be higher than pricing on the existing deal.

Hexcel is a Stamford, Conn.-based advanced composites company.

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