Molex gets $195 million credit facility via JPM, Standard Chartered

By Sara Rosenberg

New York, June 30 - Molex Inc. closed on a new $195 million unsecured credit facility due June 2012, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

JPMorgan and Standard Chartered Bank acted as the co-lead arrangers on the deal that was completed on June 25, with JPMorgan the bookrunner and administrative agent.

Pricing on the facility can range from Libor plus 250 basis points to 350 bps based on leverage.

There is a $75 million accordion feature.

Financial covenants include EBITDA minus capital expenditures to total interest expense of not less than 1.50:1.00, total debt to EBITDA of not more than 2.25:1.00, and the maintenance of cash and cash equivalents plus unused commitments of not less than $300 million.

Molex is a Lisle, Ill.-based manufacturer and seller of 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.