Federal Signal to repay private placement notes with new facilities

By Ashley Montgomery

Kansas City, Kan., Jan. 11 - Federal Signal Corp. intends to repay its private placement notes with proceeds from a proposed $215 million term loan along with a draw on a new $100 million senior secured asset-based credit facility, according to a company news release.

Proceeds will also be used to repay the company's existing credit facility and for fees and expenses.

The company said it expects the new credit facilities to close by the end of the first quarter.

Federal Signal is a security technology and industrial tooling company based in Oak Brook, Ill.

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