Edition:
India

Spirit Aerosystems Announces Amendment To Second Amended And Restated Credit Agreement


Monday, 3 Aug 2020 

Aug 3 (Reuters) - Spirit AeroSystems Holdings Inc ::SPIRIT AEROSYSTEMS HOLDINGS - ON JULY 31, CO, UNITS, ENTERED INTO AN AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT.SPIRIT AEROSYSTEMS - MAIN PURPOSE FOR ENTERING INTO AMENDMENT WAS TO OBTAIN COVENANT RELIEF WITH RESPECT TO EXPECTED BREACHES OF FIRST LIEN LEVERAGE.SPIRIT AEROSYSTEMS - MAIN PURPOSE FOR ENTERING INTO AMENDMENT WAS TO OBTAIN COVENANT RELIEF WITH RESPECT TO EXPECTED INTEREST COVERAGE RATIOS.SPIRIT AEROSYSTEMS - AS A CONDITION TO COVENANT RELIEF, REDUCED SIZE OF REVOLVER BY $300 MILLION TO $500 MILLION.SPIRIT AEROSYSTEMS - USED $100 MILLION OF CASH ON HAND TO PREPAY TERM LOAN, DELAYED DRAW TERM LOAN ON A PRO RATA BASIS.