Kaiser Aluminum Corporation Announces a Five-Year, 0 Million Senior Secured R

Posted by tjdetai on August 26th, 2015

 Kaiser Aluminum Corporation (Nasdaq:KALU) today announced that it has entered into a 0 million, five-year senior secured revolving credit facility by amending and restating the Company's previously existing facility. The amended facility increases the lending commitment by 0 million, provides more favorable pricing and greater flexibility, and extends the maturity date from March 2014 to September 2016. On the effective date of September 30, 2011, borrowing availability, net of outstanding letters of credit, was 1 million based upon a borrowing base of eligible accounts receivable and inventory and certain machinery and equipment. There are no borrowings under the revolving credit facility.

"The amended facility further strengthens our liquidity position and provides greater flexibility to continue to pursue organic and acquisition growth opportunities," said Jack A. Hockema, President CEO, and Chairman. "We are pleased that our lead lending banks have acknowledged our strong business model and prudent financial management and we appreciate their continued support."

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