AM General holds call asking loan lenders to approve dividend payment

By Sara Rosenberg

New York, Nov. 21 - AM General LLC held a lender call on Monday asking its bank group to approve an amendment to the credit facility that would allow the company to pay a $150 million dividend to its owners, according to a buy-side source.

In return for consenting to the dividend payment, first-lien lenders would get paid a 25 basis-point amendment fee and second-lien lenders would get paid a 100 bps amendment fee.

Consents are due Nov. 29.

AM General is a South Bend, Ind., military and special purpose vehicles company.

© 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.