Moog trims pricing on credit facility, pushes out maturity until 2018

By Susanna Moon

Chicago, April 2 - Moog Inc. amended its credit facility, reducing pricing and pushing out the maturity until March 28, 2018, according to an 8-K filing with the Securities and Exchange Commission.

The company lowered pricing on its loans by 12.5 basis points to Libor plus 112.5 bps to 212.5 bps based on leverage. The unused fee was cut by 2.5 bps to 17.5 bps to 37.5 bps.

The company amended its loan agreement on March 28 with HSBC Bank USA, NA as administrative agent, swingline lender and issuing bank; Manufacturer and Traders Trust Co. as lead syndication agent; Bank of America, NA and JPMorgan Chase Bank, NA as co-syndication agents; and Citizens Bank of Pennsylvania as documentation agent.

The facility was extended from March 18, 2016.

Moog is an East Aurora, N.Y.-based designer, manufacturer and integrator of precision control components and systems.

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