Haynes International enters $100 million three-year revolver

By Wendy Van Sickle

Columbus, Ohio, Oct. 20 – Haynes International, Inc. entered into a credit agreement on Monday that provides for up to $100 million of revolving loans, subject to a borrowing base, according to an 8-K filing with the Securities and Exchange Commission.

The borrowing may expand commitments up to $170 million.

The revolver matures on Oct. 19, 2023.

Borrowings bear interest at Libor plus a margin ranging from 225 basis points to 275 bps with a 0.5% Libor floor.

There is a 42.5 bps commitment fee.

JPMorgan Chase Bank, NA and Bank of America, NA are the joint lead arrangers and bookrunners.

JPMorgan is the administrative agent.

Haynes is a Kokomo, Ind.-based developer, manufacturer, marketer and distributor of technologically advanced, high-performance alloys, primarily for use in the aerospace, land-based gas turbine and chemical processing industries.

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