Common Cable Up-Sizes And Expands Senior Turning Credit Service

by Shelton on September 20th, 2013

filed under Secured Credit

(RTTNews. com) – General Cable Corp. ( BGC ) Monday said it truly is increasing their existing $700 million asset-based revolving credit facility to $1. 0 billion, and extending the maturity date in order to 2018.

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The change provides a three hundred million boost to the Mature Secured Credit rating Facility by incorporating some of the companys European assets, thereby making a single credit rating facility with regard to North America plus Europe.

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The new amendment is expected to enhance the companys financial versatility to support its global operations and money structure, subject to meeting lowest availability and glued coverage specifications.

So as to support continuous business needs, portions of the Senior Anchored Credit Service will be available for the issuance associated with letters associated with credit.

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Our capital structure and maturity account are in good order and that we are well situated to continue to be able to execute about growth possibilities as well as our share repurchase program and quarterly dividend, said John Robinson, EVP, CFO.

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