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Article: Kaman Closes on New $225 Million Three-Year Revolving Credit Facility.
- Article from:
- PR Newswire
- Article date:
- September 18, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BLOOMFIELD, Conn., Sept. 18 /PRNewswire-FirstCall/ -- Kaman Corporation
announced that yesterday it replaced its five-year $200 million revolving credit facility with a new three-year $225 million revolving credit facility.
The new facility includes an accordion feature that allows the company to increase the aggregate amount available to up to $300 million with additional commitments from lenders. The initial interest rate for borrowings under the facility will be LIBOR plus 350 basis points. The facility includes a collateralized security agreement and carries a standard financial covenant package, which contains market terms and conditions.
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