Daily News: January 2, 2018

JPMorgan Chase Agents Aleris ABL Amendment


Aluminum-rolled product manufacturer Aleris International amended its 2015 ABL facility with JPMorgan Chase serving as administrative agent.

According to the company’s 8-K filing, J.P. Morgan Europe acted as European agent, Bank of America as syndication agent, and Barclays Bank and Deutsche Bank Securities as syndication agents.

The amendment ensured that the permit indebtedness of Aleris’s foreign subsidiaries would not exceed the greater of $175 million and 10% of consolidated assets and permitted up to $80 million of liens encumbering any property (other than collateral) to support liabilities or deferred revenues.