Federal Signal closes on new five-year $325 million revolving facility

By Wendy Van Sickle

Columbus, Ohio, Jan. 27 – Federal Signal Corp. closed on a new five-year $325 million revolving credit facility, replacing its existing $225 million credit facility, according to a Wednesday press release.

Under the new credit agreement, the company may borrow up to an additional $75 million with lender approval.

Wells Fargo Securities, LLC and J.P. Morgan Securities LLC acted as joint lead arrangers and joint bookrunners; JPMorgan Chase Bank, NA. as syndication agent; and KeyBank NA as documentation agent.

Wells Fargo Bank, NA is the administrative agent.

Proceeds will be used to “invest in internal growth initiatives and pursue acquisitions,” Federal Signal president and chief executive officer Jennifer L. Sherman said in the release. She noted that the terms of the new facility are more favorable to the company than those of the previous facility.

Federal Signal is an Oak Brook, Ill.-based provider of environmental and safety solutions.

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