Federal Signal Corporation Announces Plans for New Credit Facilities

Federal Signal Corporation FSS announced today that it has signed a proposal letter that outlines certain material terms and conditions for a $215 million term loan. The Company also announced it has signed a commitment letter for a $100 million senior secured asset-based credit facility. Proceeds from the $215 million term loan and a concurrent draw from the funds available under the new asset-based credit facility will be used to repay borrowings under the Company's existing secured credit facility, outstanding debt under its private placement notes, and fees and expenses related to this refinance.