TriMas extends $226.3 million of term loan, $75 million of revolver

By Sara Rosenberg

New York, Jan. 14 - TriMas Corp. ended up extending about $226.3 million of $252.2 million in term loans to December 2015 from August 2013 and $75 million of revolver commitments to December 2013 from August 2011, according to a news release.

By comparison, in December, the company had said that about $220.1 million of the term loan debt and $70 million of the revolver was extended.

Pricing on extended term loans is Libor plus 400 basis points with a 2% Libor floor, and pricing on the extended revolver is Libor plus 400 bps with no Libor floor.

The commitment fee on the extended revolver is 75 bps.

In addition, the company established a new up to $75 million three-year accounts receivable facility to replace its 364-day accounts receivable facility.

TriMas is a Bloomfield Hills, Mich.-based provider of engineered and applied products.

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