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-Aeroflex amends credit agreement.

AIRLINE INDUSTRY INFORMATION-(C)1997-2012 M2 COMMUNICATIONS

Test and measurement equipment supplier Aeroflex Holding Corp. (NYSE: ARXC) said that its Aeroflex Inc. subsidiary has obtained an amendment to its senior secured credit agreement.

The amendment increases flexibility under the total leverage ratio covenant, increases the interest rate payable with respect to outstanding loans under the facility by 1.5%, and provides for certain changes to the excess cash flow mandatory prepayment and call protection provisions under the facility.

The changes in the agreement will result in additional interest expense of approximately $10 million per year. In addition, Aeroflex paid certain one-time fees and expenses in connection with the amendment, in the aggregate amount of approximately $4 million, including a consent fee to each lender approving the amendment.

Aeroflex Holding is a provider of high performance microelectronic components, and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets

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Publication:Airline Industry Information
Date:Jun 4, 2012
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