debt
confidence high
sentiment neutral
materiality 0.45
Advanced Energy upsizes credit facilities: Term loan to $400M, revolver to $200M, maturity extended to 2026
ADVANCED ENERGY INDUSTRIES INC
- Increased term loan by $85M to $400M; increased revolver by $50M to $200M.
- Maturity extended from Sept 2024 to Sept 2026.
- Added LIBOR transition provisions and covenant holiday for acquisitions >$150M.
- Proceeds to be used for growth, share repurchase, and other corporate needs.
- Citibank increased its position to replace Bank of the West as lender.