Kaiser Aluminum upsizes revolver to $265 million, repays term loan

By Sara Rosenberg

New York, Dec. 13 - Kaiser Aluminum increased its revolving credit facility due July 6, 2011 to $265 million from $200 million and repaid its $50 million term loan using available cash, according to a company news release.

"The company's strong cash flow has enabled the repayment of our term loan while funding over $70 million of capital spending on our growth initiatives since June of 2006," said Jack A. Hockema, chairman, chief executive officer and president, in the release.

"The revolving credit increase further improves our liquidity, even after paying down the term loan. We believe our strong liquidity and solid balance sheet position us well to act on further growth opportunities," Hockema added in the release.

Kaiser Aluminum is a Foothill Ranch, Calif., producer of fabricated aluminum products.

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