Daily News: April 29, 2016

Wells Fargo Leads VOXX $155MM Refi


VOXX International entered into an amended $140 million credit facility with a $15 million sublimit for letters of credit and the right to increase the maximum revolver amount to $175 million.

Wells Fargo is the lead bank, with Key Bank, Citibank and HSBC USA participating in this combined $155 million refinancing.

Pat Lavelle, president and CEO of VOXX International said, “This new financing increases our borrowing capacity and extends our debt maturities, providing us with sufficient resources to fund all of our working capital requirements and for general corporate purposes.”

VOXX International, formerly Audiovox Corporation, is a global company with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world’s leading automotive manufacturers.