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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
U.S. Bank Agents Revolver Upsize to $170MM for Universal Electronics
Tuesday, November 7, 2017
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Lenders/Participants
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U.S. Bank [Administrative Agent, Sole Lead Arranger, Sole Bookrunner]
Wells Fargo Bank [Lender]
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Structure
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Revolver Amendment, Increase
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Amount
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$170.000
Million
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Borrower(s)
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Universal Electronics Inc.
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Description
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Under the Second Amended Credit Agreement, the existing revolving credit line (“Credit Line”) was increased from $125.0 million to $170.0 million and the expiration date remained November 1, 2019. The Credit Line may be used for working capital and other general corporate purposes including acquisitions, share repurchases and capital expenditures. At closing, there were outstanding borrowings of $125.0 million and no outstanding letters of credit under the Second Amended Credit Agreement. Under the Second Amended Credit Agreement, the Company may elect to pay interest on the Credit Line based on LIBOR plus an applicable margin (varying from 1.25% to 1.75%) or base rate (based on the prime rate of U.S. Bank or as otherwise specified in the Second Amended Credit Agreement) plus an applicable margin (varying from 0.00% to 0.50%). The applicable margins are calculated quarterly and vary based on the Company’s cash flow leverage ratio as set forth in the Second Amended Credit Agreement. There are no commitment fees or unused line fees under the Second Amended Credit Agreement.
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Industry
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Electronics
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| Related Tags |
U.S. Bank, Wells Fargo Bank
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ABL Advisor
Deal Tables
2024
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