Bel Fuse enters interest rate swaps to fix LIBOR on $60M of debt

BEL FUSE INC /NJ

Entered two $30M notional interest rate swaps with PNC Bank and KeyBank.
PNC swap fixes LIBOR at 1.3055%; KeyBank swap fixes at 1.318%; both effective Dec 31, 2021.
Swaps mature on Aug 31, 2026; relate to debt under Sept 2, 2021 credit agreement.
Transaction intended to manage interest rate exposure on existing variable-rate debt.

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