Robbins & Myers amends loan to reduce revolver to $100 million, change covenants

By Sara Rosenberg

New York, Dec. 1 - Robbins & Myers Inc. amended its credit facility, reducing the revolver size to $100 million and changing the consolidated fixed charge coverage and consolidated leverage ratios, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The minimum consolidated fixed charge coverage ratio was changed to 1.75-to-1.00 through Feb. 28, 2005, then 2.00-to-1.0 from Feb. 28, 2005 through Aug. 31, 2005, 2.25-to-1.0 from Aug. 31, 2005 through Nov. 30, 2005 and 2.50-to-1.0 thereafter.

The maximum consolidated leverage ratio was changed to 4.50-to-1.00 through Feb. 28, 2005, 4.25-to-1.0 from Feb. 28, 2005 through May 31, 2005, 4.00-to-1.0 from May 31, 2005 through Aug. 31, 2005, 3.75-to-1.0 from Aug. 31, 2005 through Nov. 30, 2005 and 3.5-to-1.0 thereafter, the filing said.

Bank One is the administrative agent on the loan.

The amendment became effective on Nov. 24.

Robbins & Myer is a Dayton, Ohio-based designer, manufacturer and marketer of highly engineered, application-critical equipment and systems for the pharmaceutical, energy and industrial markets.

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