Avocent amends credit facility to get new $90 million term loan

By Sara Rosenberg

New York, Aug. 4 - Avocent Corp. amended its credit facility, providing for a new $90 million term loan due in June 2011, according to a news release.

Pricing on the term loan is initially set at Libor plus 175 basis points, but it can vary based on leverage.

Proceeds from the term loan are being used to pay down borrowings under the company's existing $250 million revolver due in June 2011, which is also currently priced at Libor plus 175 bps based on a leverage grid.

Prior to the amendment, there was $165 million outstanding under the revolver.

Avocent is a Huntsville, Ala.-based provider of IT infrastructure management.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.