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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
PNC Bank Agents Vector Security’s $300MM Credit Facility
Wednesday, November 30, 2016
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Lenders/Participants
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PNC Bank [Administrative Agent]
PNC Capital Markets [Joint Lead Arranger, Sole Bookrunner]
Citizens Bank [Joint Lead Arranger]
Bank of America Merrill Lynch [Joint Lead Arranger]
U.S. Bank [Syndication Agent]
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Structure
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Revolving Credit Facility
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Amount
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$300.000
Million
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Borrower(s)
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Vector Security
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Description
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The credit agreement provides for a $300 million revolving credit facility commitment, with the option of requesting the lenders to increase the commitment by $100 million subject to the terms and conditions outlined in the credit agreement. The credit agreement, which matures November 9, 2021, provides Vector Security with a significant increase in its borrowing capacity, along with an appealing cost of borrowing. The new credit agreement contains customary covenants, representations and warranties, and events of default. Vector Security plans to use the proceeds of the credit agreement for repayment of its existing credit agreement, for working capital purposes, for general corporate purposes, and to finance acquisitions.
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Industry
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Security Systems
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| Related Tags |
Bank of America Merril Lynch, Citizens Bank, PNC Bank, PNC Capital Markets
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ABL Advisor
Deal Tables
2025
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