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BRIEF-Kemet announces completion of refinancing
May 1, 2017 / 1:09 PM / 8 months ago

BRIEF-Kemet announces completion of refinancing

May 1 (Reuters) - Kemet Corp

* Kemet announces completion of refinancing; significant lowering of annual interest expense; added operational flexibility

* Kemet Corp - entered into a new $345 million term loan credit facility.

* Kemet Corp - proceeds are being used, together with cash on hand, to fund redemption of all of Kemet’s outstanding 10½ pct senior notes due 2018

* Kemet Corp - in connection with closing of new term loan credit facility, kemet also entered into a new amendment to its revolving credit facility

* Kemet Corp - new amendment to revolving credit facility provides Kemet with lower pricing and ability to complete refinancing

* Kemet Corp - as part of overall refinancing, Kemet also repaid all amounts outstanding under revolving credit facility

* Kemet - New term loan credit facility provides co with lower annual cash interest expenses, resulting in interest expense savings of about $13 million annually Source text for Eikon: Further company coverage:

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