Gates Global upsizes revolver to $185 million, extends to 2023

By Tali Rackner

Minneapolis, Jan. 30 – Gates Industrial Corp. plc subsidiary Gates Global LLC amended its senior secured credit agreement on Monday to increase revolving commitments to $185 million, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the amendment extends the revolver’s maturity to Jan. 29, 2023 from July 3, 2022, with a springing maturity of April 15, 2022 if more than $500 million of the company’s 6% senior notes due 2022 are outstanding at that time.

Credit Suisse AG, Cayman Islands Branch is the administrative agent and collateral agent.

Gates is a Denver-based aftermarket-focused manufacturer of power transmission belts and fluid power products.

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