BWX amends revolver to extend maturity date, reduce commitment fee

By Sara Rosenberg

New York, March 24 - BWX Technologies Inc. (BWXT) amended its revolving credit facility, extending the maturity date to March 18, 2010 and reducing the commitment fee to 37.5 basis points, according to a company news release.

Furthermore, the amendment modified some covenants including increasing permitted acquisitions to $75 million over a 12-month period and increasing allowable unsecured debt to $20 million.

The amended credit facility provides the company committed credit capacity of $135 million, which can later be increased to $150 million.

Calyon is the administrative agent on the loan.

The amendment was completed on March 18.

"I appreciate the commitment and confidence our lenders are showing to BWXT," said John Fees, president and chief operating officer, in the release. "The amended facility provides BWXT with the long-term credit capacity it needs with pricing and terms that reflect our strong financial performance."

BWX Technologies is a Lynchburg, Va., supplier of nuclear operations services and products to the U.S. government and commercial clients.

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