General Cable Corporation (NYSE: BGC) has amended its existing $700 million asset-based revolving credit facility (the "Senior Secured Credit Facility") extending its maturity date to 2022. The Senior Secured Credit Facility provides the Company with the ability to increase the facility size in the future by up to $250 million. Indebtedness under the Senior Secured Credit Facility is guaranteed by certain of the Company's U.S. subsidiaries and is secured by a first priority security interest in certain tangible and intangible property and assets of certain of the Company's U.S. subsidiaries. Indebtedness under the Senior Secured Credit facility related to the Canadian Borrower and the European Borrowers is guaranteed by certain of the Company's Canadian subsidiaries and European subsidiaries and is secured by a first priority security interest in certain tangible and intangible property and assets of certain of the Company's Canadian subsidiaries and European subsidiaries. In order to support ongoing business requirements, portions of the Senior Secured Credit Facility will be available for the issuance of letters of credit. Click here for more.
from Cellular News http://bit.ly/2rnT9Xx
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