Actuant amends loan, increasing size and pushing out maturity

By Sara Rosenberg

New York, Feb. 23 - Actuant Corp. amended its senior credit facility, providing for $300 million of additional borrowing capacity and extending the maturity to 2016, according to a news release.

The amended facility consists of a $600 million revolver and a $100 million term loan.

Initial pricing is Libor plus 200 basis points.

There is a $300 million accordion feature.

J.P. Morgan Securities LLC, Merrill Lynch Pierce, Fenner & Smith Inc., Wells Fargo Bank and U.S. Bank acted as the co-arrangers on the deal.

Actuant is a Butler, Wis.-based diversified industrial company.

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