This new credit facility, coupled with Allegion s issuance of $300 million in senior notes earlier this month, completes the company s comprehensive financing plan for the acquisitions of SimonsVoss and Axa Stenman.
The Amended and Restated Credit Agreement, among other things: Refinanced the $938.4 million outstanding borrowings under Allegion s existing term loan A facility; reduced credit spreads on outstanding borrowings under the facility 12.5 basis points; and extended the applicable maturities from Oct. 15, 2019, to Oct. 15, 2020. The availability under the revolving credit facility remained unchanged and continues to permit borrowing of up to $500 million.
Allegion (NYSE: ALLE) is a global pioneer in safety and security, with leading brands like CISA, Interflex, LCN, Schlage and Von Duprin.Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. Allegion is a $2 billion company, with products sold in almost 130 countries.
For more, visit www.allegion.com.
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