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Dayton Superior amends loan, increasing revolver to $130 million
By Angela McDaniels
Seattle, Dec. 4 - Dayton Superior Corp. said it amended its credit facility on Friday, extending the maturity date to May 31, 2008 from Jan. 30, 2007, increasing the existing commitments under the revolving credit facility by $35 million to $130 million and amending the definition of "change of control" in the events-of-default provisions of the revolver.
The company initially entered into the amendment on Sept. 28, but the effectiveness of the amendment was conditioned upon soliciting consents from holders of Dayton's 13% senior subordinated notes due 2009. The consent solicitation ended on Friday, and the company received the consents needed to revise the calculation of the amount of debt Dayton may incur under its credit facilities.
General Electric Capital Corp. and GMAC Commercial Finance LLC are the lead banks on the deal.
Dayton Superior is a Dayton, Ohio-based manufacturer and distributor of metal accessories and forms used in concrete construction and masonry construction.
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