Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Flowserve Corp. > News item |
Flowserve amends loan to increase revolving facility to $1 billion
By Jennifer Chiou
New York, Oct. 8 - Flowserve Corp. entered into on Oct. 4 an amendment to its credit agreement with Bank of America, NA as administrative agent, lifting the revolving credit facility to $1 billion from $850 million, according to an 8-K filing with the Securities and Exchange Commission.
The maturity date was extended to Oct. 4, 2018 from Aug. 20, 2017.
The changes also include the addition of a $150 million sublimit for financial standby letters of credit while maintaining a $300 million sublimit for commercial letters of credit as well as additional lenders.
The company may increase the term loan facility or the revolving credit facility by $400 million, up from $250 million.
Flowserve is an Irving, Texas-based provider of flow control products and services for the infrastructure markets.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.