STAMFORD, Conn.--Hexcel Corporation (NYSE:HXL) (Paris:HXL) today announced the successful amendment and extension of its $700 million senior unsecured revolving credit facility (the Facility). The maturity of the Facility has been extended from September 2019 to June 2021. The amendment provides for a modest reduction in interest costs, as well as less restrictive covenants. As a result of the refinancing, Hexcel will accelerate certain unamortized financing costs of the credit facility being replaced incurring a pretax charge of $0.4 million in the second quarter of 2016.
Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.