Brand launches amendment to upsize revolver, add B loan accordion feature

By Sara Rosenberg

New York, July 24 - Brand Energy & Infrastructure Inc. held a conference call on Monday to launch an amendment to its credit facility that would upsize its revolver, allow for a term loan B add-on at a later date and increase the acquisitions basket, according to an 8-K filed with the Securities and Exchange Commission Monday.

More specifically, the company wants to increase its revolver to $100 million from $50 million.

In addition, the company wants permission to raise a $25 million term loan B add-on in the future, if necessary, and it wants to increase the acquisitions basket by $20 million.

Lenders will get a 12.5 basis point amendment fee for consenting to the changes by the July 31 deadline.

Credit Suisse is the lead bank on the deal.

The amendment is being done in connection with the company's pursuit of two tuck-in acquisitions - Project Rush Hour for a purchase price of around $31 million and Project Tesco for a purchase price in the area of $20 million to $25 million.

Brand Energy is a Kennesaw, Ga.-based provider of scaffolding services.

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