Belden and certain of its U.S. and non-U.S. subsidiaries entered into an amended and restated credit agreement with JPMorgan Chase Bank as administrative agent and a syndicate of lenders.
The amended agreement, which replaces the company’s October 3, 2013 credit agreement, provides for a $400 million multicurrency asset-based revolving credit facility, as well as:
- Extends the maturity date until May 16, 2022
- Removes the company’s UK subsidiaries from the credit facility and releases the company’s UK subsidiaries from their obligations under the prior credit agreement
- Increases the advance rates applicable to accounts receivable and inventory in the determination of amounts available to be drawn under the credit facility
According to a related 8-K filing, Wells Fargo served as syndication agent, Citibank and U.S. Bank served as co-documentation agents, and JPMorgan Chase and Wells Fargo served as joint bookrunners and joint lead arrangers.
Belden is a manufacturer of networking, connectivity and cable products.