Esterline amends loan, increasing revolver size, adding new $100 million term loan

By Sara Rosenberg

New York, March 19 - Esterline Technologies Corp. amended its credit facility, increasing the revolver to $200 million and adding a new $100 million term loan, according to an 8-K filed with the Securities and Exchange Commission Monday.

Pricing on the revolver and the term loan can range from Libor plus 62.5 to 125 basis points, depending on leverage.

Proceeds from the term loan, along with $60 million in revolver borrowings, were used to help fund the acquisition of CMC Electronics Holdings Inc.

The amendment was completed on March 13.

Wachovia Bank is the administrative agent on the deal.

Esterline is a Bellevue, Wash.-based designer and manufacturer of highly engineered products for the defense and aerospace industry.

© 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.