Daily News: March 14, 2013

Wells Fargo, GE Close $225MM in Financing for Federal Signal


Federal Signal Corporation, an environmental and safety solutions provider, announced that it completed the refinancing of its existing senior secured credit facilities with new senior secured credit facilities. They consist of a five-year, $150 million revolving credit facility and a five-year, $75 million fully funded term loan A facility.

Wells Fargo Bank is the administrative agent and GE Capital, Corporate Finance is the syndication agent. Wells Fargo Securities and GE Capital Markets are joint lead arrangers and joint book managers.

“I am delighted with the result of our debt refinancing efforts and the much improved capital structure of Federal Signal,” said Dennis Martin, Federal Signal’s president and chief executive officer. “We received strong demand in the bank market allowing us to take advantage of very favorable rates. This transaction strengthens our balance sheet and affords us the flexibility needed to achieve our goals in growing the Company. We have a very strong bank group that will benefit Federal Signal for years to come.”