Franklin Electric, Prudential Insurance amend note purchase agreement

By Lisa Kerner

Charlotte, N.C., Dec. 15 - Franklin Electric Co., Inc. entered into a fourth amendment of its Sept. 9, 2004 note purchase and private shelf agreement with Prudential Investment Management, Inc., Prudential Insurance Co. of America and affiliates.

The amendments require the company to maintain a debt-to-EBITDA ratio of no more than 3.5 to 1.0 and changed the rounding of reinvestment yield, according to a form 8-K filed with the Securities and Exchange Commission.

Franklin Electric is a Bluffton, Ind.-based provider of water and fueling systems.

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