Kaman gets amended, restated $800 million five-year credit facility

By Sarah Lizee

Olympia, Wash., Dec. 16 – Kaman Corp. closed on an amended and restated $800 million credit facility, according to a press release.

The new credit facility amends and restates the company’s prior credit facility to, among other things, extend the maturity date to December 2024, increase the amount of revolving commitments to $800 million from $600 million and modify the affirmative and negative covenants.

Several additional modifications to the terms and provisions of the facility were made, including its pricing, the company said. Details of those changes were not disclosed in the release.

The facility includes an accordion feature that allows the company to increase the total amount available to up to $1 billion with additional commitments from the lenders.

The facility was brought to market by joint bookrunners and joint lead arrangers JPMorgan Chase Bank, NA, BofA Securities and Citizens Bank, NA.

Based in Bloomfield, Conn., Kaman makes proprietary aircraft bearings and components.

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