Date: 2013-08-01

Kaman Closes on $275 Million Revolving Credit

Kaman Corp., which makes bearings and structures for aircraft assembly, said Monday it closed on a four-year, $275 million revolving credit facility to replace a smaller plan.

The new facility includes an accordion feature that lets the company increase the amount it can borrow up to $350 million. The initial interest rate will be 2.25 percentage points above the London interbank offered rate. It replaces a three-year, $225 million revolving credit facility.

Kaman said the maturity date on a $42.5 million term loan was extended to match the new revolving loan.

The company said the moves increased its access to credit to carry out its growth strategy.

The shares rose $1.13, or 4.6 percent, to $25.97.

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