Acterna amends credit facility, allowing for asset sale and tender offer for bonds

By Sara Rosenberg

New York, July 15 - Acterna Corp. amended its senior secured credit facility agreement. Under the amendment, the sale of Acterna's Airshow business to Rockwell Collins was approved by lenders, consent was obtained to revise certain financial covenants following the sale and the company received permission to use $24 million to purchase a portion of Acterna LLC's 9.75% senior subordinated notes due 2008.

"We are pleased with the support from our banks," said John Ratliff, chief financial officer, in the press release. "This amendment clears the way for the company to proceed with the tender offer for the bonds and the revised financial covenants provide additional financial flexibility as the company works through difficult industry conditions."

Acterna is a Germantown, Md. communications test and management group.

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