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NINGBO SUNTHAI BEARING CO.,LTD SUNTHAI®  F&F®
TEL:+86-574- 87222434 87220319 87220519 (EXT) 8013
FAX:0574-87223781 E-mail:stb888@sunthaibearing.com
ADD:NO.1730 LIYUAN NORTH ROAD, NINGBO, CHINA
WEBSITE:www.sunthaibearing.com   www.fbearing.com

Kaman Closes $225 Million Credit Facility

Post by ffbing, 2010-6-21, Views:

     Kaman Corp. despite the current economic climate, has replaced a 5-year
      $200 million revolving credit facility with one covering the next 3 years
      and offering $225 million.

      Because Kaman's lenders were actually willing to go well beyond the $225
      million, the revolver includes a facility which allows them to do that; up
      to $300 million will maintain the same agreement.

      Recently focusing more resources to industrial distribution, Kaman is
      North America's third-largest distributor of bearings and power
      transmission products. Kaman Industrial Technologies carries almost 3
      million SKUs in 200 branches, DCs and customer service centers across the
      U. S., Canada and Mexico. KIT also offers a variety of value-added
      services. The company's other business unit is a key player in airframe
      components aerospace component supply markets.

      CFO William Denninger said: "Upsizing our revolver in the current
      environment is a significant accomplishment, and we were encouraged by the
      strong interest from the banking community. We brought in six new lenders
      and were well over-subscribed. This agreement increases our availability
      of credit and in conjunction with our shelf registration, which took
      effect in August, provides significant access to capital and continue to
      execute our growth strategy."

      The lead banks are BofA, Bank of Nova Scotia, and RBS. Others include
      JPMorgan Chase, KeyBanc, TD, BB&T, Fifth Third, Webster, Northern Trust,
      US Bank, Sovereign, and UBS.

 

NINGBO SUNTHAI BEARING CO.,LTD
TEL:+86-0574-87222434 87220319 87220519(EXT)8013
FAX:+86-0574-87223781
ADD:NO.1730 LIYUAN NORTH ROAD, NINGBO, CHINA
E-MAIL:stb02@sunthaibearing.com
WEBSITE:www.sunthaibearing.com www.sunthai.com.cn
SUNTHAI NON STANDARD BEARING  WEBSITE:www.fbearing.com
 

 
 

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