Benchmark Electronics gets expanded $200 million five-year revolver

By Susanna Moon

Chicago, Aug. 3 - Benchmark Electronics, Inc. obtained a $200 million five-year revolving credit facility at Libor plus 175 basis points with a $100 million accordion.

Interest on the loans will range from Libor plus 175 bps to 275 bps, based on leverage. The commitment fee is initially 30 bps and ranges from 30 bps to 40 bps.

The Credit Agreement includes an accordion feature under which total commitments under the facility may be increased by an additional $100 million, subject to satisfaction of certain conditions.

The company entered into an amended and restated credit agreement Monday with JPMorgan Chase Bank, NA as administrative agent, issuing lender and swingline lender and J.P. Morgan Securities LLC as lead arranger, according to an 8-K filing with the Securities and Exchange Commission.

Wells Fargo Bank, NA and Compass Bank are co-syndication agents.

Proceeds will be used for general corporate purposes.

The facility matures on July 30, 2017 and replaces the company's $100 million secured credit agreement.

Benchmark Electronics is an Angleton, Texas, manufacturer of electronics and provider of services to original equipment manufacturers of computers and related products for business enterprises, medical devices, industrial control equipment, testing and instrumentation products and telecommunication equipment.

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