Astronics increases five-year revolving facility to $125 million

By Tali Rackner

Norfolk, Va., March 3 - Astronics Corp. entered into an amendment to its third amended and restated credit agreement on Feb. 28 with HSBC Bank USA, NA, increasing the maximum amount of the five-year revolving credit facility under the agreement to $125 million from $75 million, according to an 8-K filing with the Securities and Exchange Commission.

On Feb. 28, $58 million was drawn to finance its purchase of substantially all of the assets and liabilities of the test and services division of EADS North America, Inc.

About $56 million remains available under the revolving credit facility as of the same date.

HSBC, Bank of America, NA and Manufacturers and Traders Trust Co. are lenders on the agreement dated July 18, 2013.

Astronics is a supplier of products to the aerospace and defense industries and is based in East Aurora, N.Y.

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