Moog gets $900 million amended and restated revolver led by HSBC

By Sara Rosenberg

New York, March 21 - Moog Inc. closed on a $900 million five-year amended and restated revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Monday.

HSBC Bank acted as the arranger and the administrative agent on the deal that was completed on March 18.

Initial pricing on the revolver is Libor plus 175 basis points with a 30 bps commitment fee. The spread can range from Libor plus 125 bps to 225 bps, and the commitment fee can range from 20 bps to 40 bps, based on leverage.

There is a $200 million accordion feature.

Proceeds were used to replace a $750 million revolver that was set to mature in March 2013.

Moog is an East Aurora, N.Y.-based designer, manufacturer, and integrator of precision control components and systems.

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