Blount plans to amend, restate facility to extend maturity, up size; notes redemption possible

By Jennifer Chiou

New York, July 12 - Blount International Inc. announced that it is in talks with GE Capital Markets to arrange an amendment to its senior credit facility.

Specifically, the company is looking to increase the facility size to up to $425 million and extend the maturities of the revolving credit facility and the term loans until 2015 and 2016, respectively.

If the company is able to obtain the amendments, Blount said it plans to use borrowings to redeem its $175 million of senior subordinated notes due in August 2012.

Blount is a Portland, Ore.-based manufacturer of equipment, accessories and replacement parts for the forestry, garden and construction industries.

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