Kennametal gets $500 million amended and restated revolver

By Sara Rosenberg

New York, Nov. 1 - Kennametal Inc. closed on a $500 million five-year amended and restated revolving credit facility, according to a company news release.

Bank of America, Key Bank and National City Bank acted as co-lead arrangers on the deal, with Bank of America as administrative agent, and Key Bank and National City as co-syndication agents. JPMorgan Chase Bank and PNC Bank acted as co-documentation agents.

Borrowings will be used for general corporate purposes and to refinance the company's existing revolver that was scheduled to mature in June 2005.

Kennametal is a Latrobe, Pa., manufacturer, marketer and distributor of cutting tools, tooling systems, supplies and technical services, as well as wear-resistant parts.

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