DCO - Ducommun announces new credit facility

• Ducommun ( NYSE: DCO ) has entered into a new credit facility consisting of a $250M term loan and a $200M revolving line of credit to replace its existing debt structure.
• In connection with the transaction, the Co. extinguished its existing $140M term loan, its existing $100M unused revolving line of credit which would have matured in December 2024 and December 2024 respectively.
• The new term loan and new revolving line of credit will mature in July 2027.
• The initial variable rate on the new term loan is Term SOFR plus 1.625%, subject to adjustments based on the Co.’s leverage ratio.
• “We chose to execute an opportunistic refinancing of our existing credit facility mid-term, with the goal of securing a new five year credit facility while in a favorable term loan environment,” said Stephen G. Oswald, chairman, President and CEO.

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