The latest update is out from Vishay Precision Group (VPG).
Vishay Precision Group, Inc. has revamped its credit facility with a new agreement that extends the maturity date by over four years and modifies the interest rate and fees. This updated $75 million multi-currency credit arrangement, which includes a $10 million sublimit for letters of credit, is intended for working capital and corporate needs, with the option to choose from various currencies for borrowing. Interest rates vary based on the selected currency and the company’s leverage ratio, with additional fees for unutilized portions and letters of credit. The agreement contains customary covenants and restrictions, including those related to dividends and financial ratios, with the potential for immediate repayment if covenants are breached.
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