Voxx enters into $140 million restated facility, $15 million term loan

By Tali Rackner

Norfolk, Va., April 28 – Voxx International Corp. entered into an amended and restated $140 million global revolving credit facility due April 26, 2021, according to a Thursday press release.

The facility has a $15 million sublimit for letters of credit and an option to increase the maximum revolver amount to $175 million.

Interest is equal to Libor plus 175 basis points to 225 bps, based on excess availability.

Voxx also secured a $15 million term loan, due July 1, 2020, which carries an interest rate of Libor plus 425 bps.

Wells Fargo Bank, NA is the lead bank, with Key Bank, NA, Citibank NA and HSBC Bank USA, NA, as participants in the combined $155 million refinancing.

Voxx is a Hauppauge, N.Y.-based automotive and consumer electronics and accessories company.

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