Regions Agents Euramax Holdings Revolver Amendment
Euramax Holdings announced it amended its $70 million revolver, with Regions Bank acting as administrative and collateral agent, and Regions Business Capital acting as sole lead arranger and bookrunner.
Subject to the company meeting certain financial ratios, minimum EBITDA levels, and other conditions, the amendment is expected to improve liquidity and to provide greater borrowing capacity of up to $15 million, which can be accessed via multiple seasonal overadvance facilities.
“We anticipate that this amendment will provide the company with the flexibility to manage its balance sheet in a more strategic manner given the seasonal nature of its revenues, while also facilitating capabilities needed to optimize business opportunities as a result of its improved capital structure,” said Hugh Sawyer, president.
Mary Cullin, SVP, CFO and treasurer, commented, “We believe this additional flexibility enables the company to effectively execute its operational initiatives to grow the business. We are grateful for Regions Bank’s confidence in Euramax and look forward to strengthening our long partnership.”
Euramax Holdings is an international building products company manufacturing aluminum, steel, vinyl and copper products.