Moog amends loan, extending tenor, upsizing revolver

By Sara Rosenberg

New York, March 17 - Moog Inc. amended its credit facility, extending the maturity to March 14, 2013 and increasing the revolver size to $750 million from $600 million, according to an 8-K filed with the Securities and Exchange Commission Monday.

In addition, pricing on the credit facility was revised so that it can now range from Libor plus 87.5 basis points to 200 bps, based on leverage.

Furthermore, the amendment allows the company to issue up to $200 million of senior unsecured subordinated notes at some future date.

The amendment was completed on March 14.

HSBC Bank is the administrative agent on the deal.

Moog is an East Aurora, N.Y.-based designer, manufacturer and integrator of precision control components and systems.

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