Valmont Industries, Inc. VMI, a leading global manufacturer of engineered products for infrastructure,
mechanized irrigation equipment for agriculture, and a provider of coating
services, announced today that it has successfully renegotiated a new
revolving bank credit facility.
The Credit Agreement provides for a $400 million committed unsecured revolving
credit facility that matures on August 15, 2017. Under the Credit Agreement,
up to $25 million will be available for swingline loans, up to $75 million
will be available for letters of credit and up to $200 million will be
available for borrowings in foreign currencies. The Company may increase the
credit facility by up to an additional $200 million at any time, subject to
lenders increasing the amount of their commitments. The obligations arising
under the Credit Agreement are guaranteed by the Company and its wholly-owned
subsidiaries PiRod, Inc., Valmont Coatings, Inc., Valmont Newmark, Inc.,
Valmont Group Pty. Ltd. and Valmont Queensland Pty. Ltd.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in