J.P. Morgan, Wells Arrange Raven Industries Facility
Raven Industries entered into a new five-year $125 million senior unsecured multi-currency revolving credit facility.
The new syndicated credit facility replaces the Company’s existing credit agreement. J.P. Morgan Securities LLC and Wells Fargo Securities LLC acted as joint bookrunners and joint lead arrangers.
“This new revolving facility provides us with additional flexibility to execute our long-term strategy and pursue strategic acquisitions in the future,” said Steven Brazones, VP and CFO. “We are pleased to have access to committed financing at very attractive rates and look forward to capitalizing on opportunities to further enhance our competitive positioning and accelerate growth, particularly within our Applied Technology and Aerostar divisions.”
Raven Industries designs and manufactures high-value technical products.