Kaman gets $275 million amended and restated four-year revolver

By Sara Rosenberg

New York, Sept. 20 - Kaman Corp. closed on a $275 million amended and restated four-year revolving credit facility, according to a news release.

Bank of America, RBS Citizens and JPMorgan acted as the joint lead arrangers on the deal.

Initial pricing on the revolver is Libor plus 225 basis points.

There is a $75 million accordion feature.

Proceeds were used to replace an existing $225 million revolver that was priced 175 bps higher than the new deal.

In addition, the maturity date on the company's existing $42.5 million term loan has been extended to match that of the new revolver.

Kaman is a Bloomfield, Conn.-based aerospace and industrial distribution company.

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