Texas Industries completes $200 million amended and restated revolver

By Sara Rosenberg

New York, June 25 - Texas Industries Inc. closed on a $200 million amended and restated senior secured revolving credit facility due Aug. 15, 2012, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Bank of America acted as the lead arranger, bookrunner and administrative agent on the deal that was completed on June 19.

Pricing on the revolver can range from Libor plus 350 basis points to 400 bps and the unused fee can range from 50 bps to 75 bps, based on leverage.

The revolver has a $100 million accordion feature.

There is a fixed-charge coverage ratio, but only if an event of default occurs or borrowing availability under the borrowing base is less than $40 million.

Texas Industries is a Dallas-based supplier of heavy construction materials.

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