Printer Friendly

Anixter closes term loan of USD200m and amends revolving credit agreement.

M2 EQUITYBITES-August 28, 2014-Anixter closes term loan of USD200m and amends revolving credit agreement

(C)2014 M2 COMMUNICATIONS http://www.m2.com

Anixter International Inc (NYSE:AXE) disclosed on Thursday that its wholly-owned operating subsidiary Anixter Inc, closed on a term loan of USD200m using the incremental facility available under its senior unsecured revolving credit agreement,which was dated 8 April 2011.

The company said that the proceeds from the increased facility will be used to partly finance the planned acquisition of Tri-Ed Security Products and added that its subsidiary also amended the revolving credit agreement to up the maximum leverage ratio to 3.50; up the leverage ratio maintenance test regarding the senior notes due 2015, to 3.00; and reset the incremental facility to USD200m, after giving effect to the term loan.

The company added that all other material terms and conditions of the revolving credit agreement remains substantially unchanged and is guaranteed by the parent company.

Anixter is a distributor of enterprise cabling and security solutions, electrical and electronic wire and cable and OEM supply fasteners and other small parts.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Aug 28, 2014
Words:194
Previous Article:DCC to pay EUR106m for France's Esso SAF Retail.
Next Article:Gunnebo announces acquisition of Dissamex in Mexico.
Topics:

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters