Global Industrial lifts credit agreement to $125 million

By Mary-Katherine Stinson

Lexington, Ky., Dec. 2 – Global Industrial Co. and certain of its direct and indirect wholly-owned subsidiaries entered into a third amendment to its third amended and restated credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the total revolver commitment to $125 million from $75 million and makes related adjustments to the borrowing base and certain financial, reporting and other select covenants.

Interest will be at SOFR plus 175 basis points and 10 bps CSA. The commitment fee is 25 bps.

It amends the credit agreement dated Oct. 28, 2016.

JPMorgan Chase Bank, NA is the administrative agent, sole bookrunner and sole lead arranger.

Global Industrial, through its operating subsidiaries, is a Port Washington, N.Y.-based value-added industrial distributor. The company was formerly known as Systemax Inc.

© 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.