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J.P. Morgan Securities, Others to Arrange $650MM Facility for TriMas

September 19, 2013, 07:57 AM
Filed Under: Specialty Industries

TriMas Corporation – a diversified global manufacturer of engineered and applied products – announced that it is in the process of refinancing its existing credit facilities. The new credit facilities are expected to be comprised of a $475 million senior secured revolving credit facility and a $175 million senior secured Term Loan A facility. The company plans to close the transaction during the fourth quarter of 2013. J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and Wells Fargo Securities, LLC are arranging the financing.

Proceeds from the new facilities are expected to be used to refinance the company’s existing $250 million senior secured revolving credit facility, $200 million senior secured Term Loan A and $200 million senior secured Term Loan B.

“Due to the strong credit markets and the company’s continued financial performance, TriMas has a further opportunity to refinance our credit facilities with terms that are even more beneficial to the future of TriMas,” said Mark Zeffiro, TriMas’ executive vice president and chief financial officer. “We expect TriMas to benefit from immediate interest savings, extended maturities and the liquidity and capital structure flexibility needed to best position the company for future growth.”

Headquartered in Bloomfield Hills, MI, TriMas Corporation provides engineered and applied products for growing markets worldwide. TriMas is organized into six reportable segments: packaging, energy, aerospace & defense, engineered components, Cequent APEA and Cequent Americas.

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