Kemet to get €95 million credit facility

By Sara Rosenberg

New York, June 5 - Kemet Corp. has reached agreement on the terms of a new €95 million six-year unsecured credit facility, according to an 8-K filed with the Securities and Exchange Commission Thursday.

UniCredit Corporate Banking is the lead bank on the deal.

Pricing on the loan is Euribor plus 170 basis points.

Proceeds will be used to refinance two existing short-term credit facilities with UniCredit totaling €96.8 million and currently scheduled to mature in December 2008 and April 2009.

The company is in the process of finalizing the definitive loan documentation with the bank.

Kemet is a Simpsonville, S.C.-based manufacturer of tantalum, multilayer ceramic and solid aluminum capacitors.

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