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: