Daily News: April 22, 2014

Bank of NY Mellon Agents $100MM GenCorp Credit Facility

GenCorp entered into a subordinated delayed draw credit agreement with the lenders identified therein, and The Bank of New York Mellon, as administrative agent.

GenCorp intends to use borrowings under the new subordinated credit facility for a variety of purposes which may include refinancing of existing debt, repurchasing common equity, working capital and general corporate purposes.

In general, borrowings under the new subordinated credit facility bear interest at a rate equal to the sum of (x) the greater of LIBOR and 1.00% per annum plus (y) 8.50%, or in the case of base rate loans, the base rate as it is defined in the credit agreement governing the new subordinated credit facility plus 7.50%.

GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale and leasing of the Company’s excess real estate assets.