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BofA Agents Accordion Expansion of Celestica Credit Facilities

November 15, 2018, 07:11 AM
Filed Under: Manufacturing

Celestica Inc., a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, announced that it has utilized the accordion feature under its current credit facility to add an incremental  $250.0 million term loan, for total term loan borrowings under such facility of $600.0 million. Net proceeds of the Incremental Term Loan were used to repay approximately $245.0 million of the $339.5 million borrowed under the Company’s revolving loan to finance its recently-announced acquisition of Impakt Holdings, LLC.

The Incremental Term Loan bears interests at LIBOR plus 2.5%, and in connection therewith, the interest rate on the Company’s original $350.0 million term loan increased to LIBOR plus 2.125%. The Incremental Term Loan is subject to quarterly principal repayments of $625,000, and matures together with the original term loan in June 2025. The Incremental Term Loan was provided by a syndicate of lenders and Bank of America, N.A. as Administrative Agent. All dollar amounts are denominated in US dollars.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., CIBC World Markets Corp., MUFG Bank, Ltd., RBC Capital Markets, LLC, The Bank of Nova Scotia, and J.P. Morgan Securities LLC acted as Joint Lead Arrangers and Joint Bookrunners.

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