Daily News: February 23, 2018

BofA Upsizes Advansix Revolver to $425MM


Advansix amended its credit agreement, terminating its existing term loan and increasing its senior secured revolving credit facility to $425 million.

According to a related 8-K filing, Bank of America served as administrative agent for the transaction.

The credit facilities under the existing credit agreement consisted of a senior secured term loan in an aggregate principal amount of $270 million and a senior secured revolving credit facility in a principal amount of $155 million. The amended facility terminated the term loan and all outstanding term loans were paid in full.

On the closing date, the company borrowed $242 million in loans under the revolver to repay the outstanding term loan facility. The revolving credit facility under the amended and restated credit agreement has a scheduled maturity date of February 21, 2023.

The amended and restated credit agreement permits the company to utilize up to $40 million of the revolving credit facility for the issuance of letters of credit and up to $40 million for swing line loans.