JPMorgan Agents New Materion Credit Agreement
Materion announced that it entered into a second amended and restated credit agreement with JPMorgan Chase Bank as administrative agent. The new credit agreement matures on June 20, 2018 and provides for a $375 million committed revolving credit facility, an increase of $50 million over the previous credit agreement.
The increased facility includes an option for an additional uncommitted facility of up to $100 million. The new facility also provides Materion with more favorable interest rates when compared to its previous facility. The new facility will provide the company and its subsidiaries with increased borrowing capacity and will accommodate future growth.
Materion supplies highly engineered advanced enabling materials to global markets.