Methode amends and restates facility, lifting size to $100 million

By Jennifer Chiou

New York, Sept. 24 - Methode Electronics, Inc. and certain of its subsidiaries entered into on Sept. 21 an amendment to their credit facility with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the maximum principal amount of the credit facility to $100 million from $75 million, with an option to increase the capacity by up to an additional $50 million.

The company also extended the maturity date to Sept. 21, 2017 from Feb. 25, 2016.

Chicago-based Methode designs, manufactures and markets electronic components.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.