AirBoss extends credit facilities, increases availability to $138 million

By Wendy Van Sickle

Columbus, Ohio, Dec. 10 – AirBoss of America Corp. increased the availability under its senior secured credit facilities to about $138 million and extended their maturity dates, according to a Thursday press release.

The facilities include an upsized $60 million revolving credit facility, a $75 million term loan, which consolidates two previous term loans, and a C$4.3 million term loan.

AirBoss may increase the facilities by up to an additional $50 million upon satisfaction of certain conditions.

The dollar-denominated facilities were extended to December 2020 from October 2018. The Canadian-dollar facility’s maturity remains at October 2018.

Toronto-Dominion Bank acted as the lead arranger, bookrunner and administrative agent.

“The amended credit facilities provide us with additional flexibility to support the Company's strategic growth plans,” Lisa Swartzman, president of AirBoss, said in the release.

Based in Newmarket, Ont., AirBoss operates a group of complementary businesses focusing on rubber compounding, products for the military, extruded and molded products and anti-vibration solutions for the North American automotive market.

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