LCI Industries amends revolver to lift commitments to $325 million

By Marisa Wong

Morgantown, W.Va., Feb. 26 – LCI Industries entered into an amendment on Feb. 20 to its third amended and restated credit agreement dated April 27, 2016 to increase the lenders’ revolving credit commitments by $125 million to a maximum of $325 million, according to an 8-K filed Monday with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA, Wells Fargo Bank, NA, Bank of America, NA and 1st Source Bank are the lenders.

In consideration for the increase, the company paid an upfront fee equal to 0.2% of the increased commitment amount.

Any borrowings under the increased commitment amount will be subject to the same terms as the tranche A revolving credit commitments, the filing noted.

The amendment also amends the definition of “interest period” in the credit agreement to add an additional Libor period of one week.

In addition, under the amendment, the lenders agreed to waive some technical events of default related to the company’s failure to provide notices and take specified administrative actions in connection with the formation of a new subsidiary.

Based in Elkhart, Ind., LCI supplies an array of components for the original equipment manufacturers of recreational vehicles and adjacent industries.

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