Blount Intl. Inc. (BLT) announced that it has amended and restated its senior credit facility. The company has extended the the maturity from August 2010 until February 2012 for the majority of amounts available under the facility.
The company also reduced borrowing capacity of the revolving credit facility from $90 million to $60 million. The amendment also include an increase in interest rates applicable to 96% of the $107.5 million of term loans outstanding.
"The amended and restated senior credit facility along with ongoing free cash flow is expected to provide adequate liquidity for the company to execute its business plans through the next two years", said Calvin Jenness, Senior Vice president and Chief Financial Officer.
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