Key Tronic increases loan to $120 million and extends to 2026

Chicago, Sept. 10 – Key Tronic Corp. increased borrowings on its credit facility to $120 million from $93 million with a second amendment that was signed on Sept. 3, according to an 8-K filing with the Securities and Exchange Commission.

The accordion feature for an additional $25 million of borrowings was removed with the increase.

The maturity date on the facility was also extended to Sept. 3, 2026.

Interest stayed the same, between Libor plus 225 basis points and 275 bps based on average daily excess borrowing availability and subject to a 0.5% Libor floor.

Bank of America, NA is the agent, lead arranger, bookrunner and lender for the loan.

The provider of electronic manufacturing services is based in Spokane Valley, Wash.

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