Date: 2013-08-01

Kaman Closes on New $500 Million Five-Year Credit Facility

Kaman Corporation (NYSE:KAMN) announced that yesterday it has closed on a new five-year $500 million credit facility replacing its prior $317.5 million credit facility.

The facility includes a collateralized security agreement and carries a standard financial covenant package, which the company believes reflects current market terms and conditions. The facility consists of a $400 million revolving credit facility and a term loan of $100 million. The new facility includes an accordion feature that allows the company to increase the aggregate amount available to up to $700 million with additional commitments from lenders; consisting of a $100 million revolving credit component, and a $100 million term loan component. The initial interest rate for borrowings under the facility will be LIBOR plus 150 basis points.

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