Owens Corning extends commitments under $250 million facility to 2016

By Marisa Wong

Madison, Wis., July 29 - Owens Corning Sales, LLC and Owens Corning Receivables LLC, each a subsidiary of Owens Corning, amended their $250 million trade receivables financing facility to extend commitments through July 26, 2016 from Dec. 16, 2014, according to an 8-K filing with the Securities and Exchange Commission.

The subsidiaries also amended the facility to reduce the $250 million loan each year to $200 million during the months of November, December and January. The size of the facility automatically reverts to $250 million for the remainder of the year.

The companies entered into the second amendment to their credit agreement on July 26. The amended and restated receivables purchase agreement that provides the trade receivables financing facility is dated Dec. 16, 2011.

Owens Corning is a Toledo, Ohio, building materials company.

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