Rogers reduces fixed-charge coverage ratio for $262.5 million of loans

By Susanna Moon

Chicago, April 5 - Rogers Corp. lowered the fixed-charge coverage ratio from 2.5 times for its $165 million revolving commitment and its $97.5 million outstanding term loans.

The fixed-charge coverage ratio will be 1.25 times through Dec. 31, 2012, stepping up to 1.5 times for March 31, 2013 through Dec. 31, 2013 and to 1.75 times beginning March 31, 2014.

The company amended its credit agreement last Friday with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The company paid an amendment upfront fee of 0.05%.

The Rogers, Conn.-based company focuses on worldwide markets that support high technology applications, such as cellular base stations and antennas, handheld wireless devices, satellite television receivers, wind and solar energy applications and hybrid, including electric, vehicles.

© 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.