Allison Transmission entered into an incremental facility joinder agreement to its credit agreement in order to increase the available revolving commitments to $550 million.
According to a related 8-K filing, Citicorp North America served as administrative agent for the incremental facility joinder agreement supplementing the company’s amended and restated credit agreement, dated September 23, 2016.
The agreement increased available commitments under the revolving credit facility from $450 million to $550 million.
The lender group involved in providing the new revolving commitments included Citicorp, which provided $13.3 million, Bank of America, JPMorgan Chase Bank, BMO Harris Bank, Barclays Bank, Fifth Third Bank, Sumitomo Mitsui Banking, all of which provided $11.1 million, and The Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank and Goldman Sachs, which provided $6.6 million.
Based in Indianapolis, Allison Transmission is a manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles and is a leader in hybrid-propulsion systems for city buses.