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Molex amends loan, lifting size and establishing accordion feature
By Sara Rosenberg
New York, March 30 - Molex Inc. amended its credit facility, increasing the size to $350 million and providing for a $175 million accordion feature, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
Also, covenants were revised to tighten the leverage ratio to 2.50:1.00, to remove the minimum liquidity requirement, and to increase the amount of liens, debt, investments, loans, advances, guarantees and acquisitions that may be incurred.
The amended facility matures in March 2016.
The amendment was completed on March 25.
JPMorgan Chase Bank is the administrative agent on the deal.
Molex is a Lisle, Ill.-based manufacturer and seller of electronic components.
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