Texas Industries gets $200 million amended and restated revolver

By Sara Rosenberg

New York, Aug. 17 - Texas Industries Inc. closed on a $200 million amended and restated revolving credit facility due Aug. 15, 2012, according to an 8-K filed with the Securities and Exchange Commission Friday.

Basically, the amendment and restatement simply provided for a $100 million accordion feature and made the revolver unsecured as opposed to secured.

Bank of America acted as the administrative agent on the deal that closed on Aug. 15, UBS Securities acted as syndication agent, and Wells Fargo Bank, Comerica Bank and Wachovia Bank acted as co-documentation agents.

Pricing on the revolver can range from Libor plus 75 basis points to 200 bps and the commitment fee can range from 15 bps to 40 bps, based on leverage.

Texas Industries is a Dallas-based supplier of heavy building materials.

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