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CPI Aerostructures amends credit agreement with Sovereign Bank to increase revolving credit facility.


CPI Aerostructures (CPI Aero) (NYSE:CVU) (AMEX:CVU) on Wednesday announced that it has entered into a seventh amendment to its credit agreement with Sovereign Bank.

The amendment will provide CPI Aero with a USD5m increase in its existing revolving credit facility to an aggregate of USD18m from an aggregate of USD13m.

In addition the credit agreement with Sovereign Bank has been extended until 31 August 2014.

CPI Aero is a subcontractor to prime aircraft manufacturers in the production of aircraft parts for the commercial aviation industry.

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Publication:Airline Industry Information
Date:Dec 1, 2011
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