Ames True Temper gets $130 million revolver

By Sara Rosenberg

New York, April 7 - Ames True Temper Inc. closed on a new $130 million senior secured five-year revolving credit facility Friday, according to an 8-K filed with the Securities and Exchange Commission. Bank of America acted as the lead bank on the deal.

Borrowings under the facility can carry an interest rate ranging from Libor plus 175 to 275 basis points, with the initial rate set at Libor plus 225 bps.

The company got the new revolver in connection with its purchase of Acorn Products Inc.

Ames True Temper is a Camp Hill, Pa.-based manufacturer and marketer of non-powered lawn and garden tools and accessories.

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