Wabco Holdings extends $400 million revolver by two years to 2018

By Angela McDaniels

Tacoma, Wash., Aug. 26 - Wabco Holdings Inc. extended its $400 million multicurrency five-year senior revolving credit facility to Sept. 1, 2018 from Sept. 1, 2016, according to an 8-K filing with the Securities and Exchange Commission.

The amendment was made on Friday.

The company said no other material terms were amended.

The interest rate is Libor plus 80 basis points to 155 bps depending on the company's leverage ratio.

The revolver has a $50 million sublimit for letters of credit and a $50 million sublimit for swingline loans.

The revolver is available to repurchase Wabco shares, finance acquisitions, refinance existing debt and meet general financing requirements.

Banc of America Securities Ltd. is the agent, issuing bank and swingline lender. Banc of America Securities, Citigroup Global Markets Ltd., Fortis Bank SA/NV, ING Belgium SA/NV, Societe Generale Corporate & Investment Banking, Bank of Tokyo-Mitsubishi UFJ, Ltd., Royal Bank of Scotland NV, (Belgium) Branch, Credit Lyonnais and Unicredit Bank AG are the lenders.

Wabco is based in Piscataway, N.J. It makes electronic, mechanical and mechatronic products for automobile manufacturers.

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