General foam plastics buys Beckett Corp

• Book ID: 104397773
• Publisher: Elsevier Science
• Year: 2004
• Tongue: English
• Weight: 41 KB
• Volume: 2004
• Category: Article
• ISSN: 1359-6128
• DOI: 10.1016/s1359-6128(04)00477-x

✦ Synopsis

The company has also entered into a US$375 million amended credit agreement with a syndicate of 15 banks, including JP Morgan Securities Inc who served as lead arranger. This deal gives Gardner Denver access to senior secured credit facilities, including a US$150 million five-year term loan and a US$225 million five-year revolving credit line. The credit facility was used to fund the Nash_Elmo acquisition and refinance the outstanding balances on the company's existing senior credit facilities of about US$50 million. Up to US$95 million remains available under the revolving credit facility for general corporate purposes, including capital expenditures and acquisitions.