- Allied Motion Technologies ( NASDAQ: AMOT ) said Monday it amended its credit agreement to increase the size of its existing revolving credit facility to $280M from $225M.
- The amendment includes a higher maximum leverage ratio of 4x through Q3 2023, after which it will go down to 3.5x.
- AMOT currently elected an allowed acquisition leverage increase providing for a 0.5x step up to the leverage ratio to 4.5x.
- This allowed increase expires at 2022-end.
- The amendment applies adj. term SOFR as the reference interest rate.
- The credit facility matures on Feb. 1, 2025.
For further details see:
Allied Motion Technologies expands revolving credit facility to $280M