Kaman closed on an amended and restated $700 million credit facility. The new facility amends and restates the company’s prior credit facility to extend the maturity date to May 2020, increase the aggregate amount of revolving commitments from $400 million to $600 million, reinstate the aggregate amount of outstanding Term Loans to $100 million, modify the affirmative and negative covenants set forth in the facility and effectuate a number of additional modifications to the terms and provisions of the facility, including its pricing.

The facility was brought to market by joint bookrunners and joint lead arrangers J.P. Morgan Securities; Merrill Lynch and Citizens Bank.

The amended and restated facility is collateralized by the company’s tangible and intangible personal property and other assets, including the stock and assets of its material domestic subsidiaries that are guarantors of the facility, and includes a typical financial covenant package, which the company believes reflects current market terms and conditions. The facility includes an accordion feature that allows the company to increase the aggregate amount available to up to $900 million with additional commitments from the lenders.

“The amended and restated credit facility provides us with increased flexibility and liquidity to execute our growth strategy. We are pleased with the strong support of our lenders, all of whom have renewed their commitments to Kaman,” stated SVP and CFO Robert D. Starr.