Helios Technologies, a provider of highly engineered motion control and electronic controls technology, entered into an additional term loan of $150 million from the company’s existing accordion facility. The company’s $200 million and $150 million term loans, $400 million revolver and $300 million undrawn accordion facility are led by PNC Capital Markets.
“The new term loan augments our capacity and provides us with financial flexibility as we continue to execute our growth strategy. We are pleased that this expansion uses the pricing from our existing credit agreement, especially given the challenging capital markets backdrop, and it demonstrates the strength of our company, our business model, and our institutional relationships,” Josef Matosevic, president and CEO of Helios, said. “We appreciate our bank syndicates’ continued strong support for our company’s strategy and this strong refinancing effort. The new $150 million term loan is leverage neutral and enables us to increase the availability under our existing revolver to approximately $200 million.”
