Columbus McKinnon reprices Term Loan B and revolver, cuts margins
Columbus McKinnon reduced interest rate margins on its $1,453M Term Loan B and $500M revolver by 50 bps, setting the TLB at SOFR+3.00%, and expects at least $7.3M annual cash interest savings.
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Columbus McKinnon entered into a First Amendment to its Credit Agreement, refinancing $1.4529 billion of Term Loan B and reducing interest margins on both the term loan and revolving facility by 50 basis points. Existing term lenders could convert cashlessly or be prepaid with proceeds from new and…
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