Kennametal tweaks credit agreement, extending maturity to 2018

By Toni Weeks

San Luis Obispo, Calif., April 11 - Kennametal Inc. and subsidiary Kennametal Europe GmbH amended their third amended and restated credit agreement on April 5, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The amendment extends the maturity of the credit facility to April 5, 2018 from Oct. 21, 2016 and alters the definition of the Eurocurrency base rate. It also provides for an updated schedule of the individual lender commitments. All other terms, conditions and provisions remain unchanged, the filing said.

Bank of America NA, London Branch is the euro swingline lender, and Bank of America, NA is the administrative agent, issuing lender and swingline lender.

PNC Bank, NA and JPMorgan Chase Bank, NA are co-syndication agents. Citizens Bank of Pennsylvania and Bank of Tokyo-Mitsubishi UFJ Trust Co. are co-documentation agents.

Kennametal is a Latrobe, Pa., manufacturer, marketer and distributor of cutting tools, tooling systems, supplies and technical services and wear-resistant parts.

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