Xerium Technologies increases term loans by $30 million

By Marisa Wong

Madison, Wis., Aug. 22 – Xerium Technologies, Inc. entered into a second amendment to its credit and guaranty agreement dated May 17, 2013 to increase the total amount of term loans under its credit facility by $30 million, according to an 8-K filing with the Securities and Exchange Commission.

Xerium entered into the second amendment on Aug. 18 with Jefferies Finance LLC as additional lender and administrative agent.

The company is using the additional borrowings to settle its previously disclosed Brazilian tax assessment, to settle unassessed amounts associated with tax years 2011 to 2014 and to pay any fees incurred in connection with the amendment.

Xerium is a Raleigh, N.C.-based manufacturer of clothing and roll covers used primarily in the paper production process.

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