Actuant amends credit facility to improve pricing, extend maturity

By Toni Weeks

San Luis Obispo, Calif., July 18 - Actuant Corp. amended and extended its senior credit facility, pushing out the maturity date to July 2018 from February 2016 and upsizing the expansion option to $350 million. The facility continues to consist of a $600 million revolver and term loan, according to a press release.

The amended agreement also contains favorable adjustments to the pricing grid for borrowings as well as for non-use and other fees. It also provides increased flexibility in other terms, conditions and covenants.

Menomonee Falls, Wis.,-based Actuant is a diversified industrial company that manufactures branded hydraulic tools, specialized products and services for energy markets and highly engineered position- and motion-control systems.

© 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.