Viasystems extends ABL revolver, changes pricing, adds accordion

By Angela McDaniels

Tacoma, Wash., Jan. 3 - Viasystems Group, Inc. said that a group of its subsidiaries amended their $75 million asset-based revolving credit facility on Tuesday in order to extend the maturity date to Dec. 29, 2018, add a $25 million accordion feature and make other changes.

Following the amendment, the interest rate is Libor plus 175 basis points to 225 bps, and the unused line fee is either 25 bps or 37.5 bps. Both depend on the monthly average excess availability, according to an 8-K filing with the Securities and Exchange Commission.

Prior to the amendment, the maturity date was Feb. 15, 2014, and the interest rate was Libor plus 225 bps to 275 bps.

Viasystems Technologies Corp., LLC, Viasystems Corp., Viasystems Sales, Inc., DDi Cleveland Holdings Corp., Coretec Building Inc., and Trumauga Properties, Ltd. are the borrowers, and Viasystems, Inc. is guarantor.

Wells Fargo Capital Finance, LLC is the agent.

St. Louis-based Viasystems makes circuit boards and electro-mechanical solutions.

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