Kaman Corp. (KAMN) announced that it has replaced the company's five-year $200 million revolving credit facility with a new three-year $225 million revolving credit facility. The company stated that the new facility includes an accordion feature that allows it to increase the aggregate amount available to up to $300 million with additional commitments from lenders. The initial interest rate for borrowings under the facility will be LIBOR plus 350 basis points. The facility includes a collateralized security agreement and carries a standard financial covenant package, which contains market terms and conditions.
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