Telephonics gets $100 million revolver

By Sara Rosenberg

New York, April 4 - Telephonics Corp. closed on a new $100 million five-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Friday.

JPMorgan acted as the lead arranger, bookrunner and administrative agent on the deal that was completed on March 31.

Pricing on the revolver can range from Libor plus 150 basis points to 200 bps and the commitment can range from 25 bps to 35 bps, depending on leverage.

There is a $50 million accordion feature.

Proceeds were used to refinance existing debt.

Telephonics is a wholly owned subsidiary of Griffon Corp., a Jericho, N.Y.-based manufacturing company.

© 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.