Atkore amends revolver to lift size to $300 million, cut interest rate

By Jennifer Chiou

New York, Oct. 25 - Atkore International Inc. entered into on Wednesday an amendment to its credit agreement with UBS AG, Stamford Branch as administrative agent and collateral agent, increasing the aggregate commitments to $300 million and modifying the applicable margin for the revolving facility, according to an 8-K filing with the Securities and Exchange Commission.

The filing stated that if aggregate available loan commitments are less than or equal to 33% of availability, the applicable interest rate is Libor plus 200 basis points.

If aggregate available loan commitments are greater than 33% but less than or equal to 66% of availability, it is Libor plus 175 bps, and if aggregate available loan commitments are greater than 66% of availability, the interest rate goes to Libor plus 150 bps.

In addition, the commitment fee was reduced to 37.5 bps if usage is less than or equal to 50% and 25 bps if usage is greater than 50%.

Deutsche Bank AG, New York Branch is the co-collateral agent, and UBS Loan Finance LLC is the swingline lender.

Atkore is a Harvey, Ill.-based manufacturer of electrical conduit, cable products, steel tube and pipe products.

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