Hexcel amends $700 million revolving credit facility, extends to 2021

By Wendy Van Sickle

Columbus, Ohio, June 9 – Hexcel Corp. amended and extended its $700 million senior unsecured revolving credit facility, according to a press release.

The maturity of the facility has been extended to June 2021 from September 2019.

The amendment provides for a modest reduction in interest costs, as well as less restrictive covenants, according to the release.

As a result of the refinancing, Hexcel said it will accelerate certain unamortized financing costs of the credit facility being replaced incurring a pretax charge of $400,000 in the second quarter of 2016.

Hexcel is a composites company based in Stamford, Conn.

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