ESCO Technologies has finalized a commitment with its lenders to amend and extend its current credit facility. The bank syndication supporting the new facility is comprised of a diverse group of nine banks led by JPMorgan Chase as administrative agent.

The new five-year agreement amends and restates the previous credit facility dated May 14, 2012 to extend the maturity date from May 13, 2017 through December 21, 2020 and reduces the outstanding borrowing rates and commitment fees.

Consistent with the prior agreement, the amended facility includes a $450 million revolving line of credit as well as provisions allowing for the increase of the credit facility commitment amount by an additional $250 million, if necessary, with the consent of the lenders.

Proceeds from the amended facility will be used to provide liquidity for general corporate purposes, including working capital, research and development spending, capital expenditures, and acquisitions.

St. Louis-based ESCO provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products.