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March 18, 2013
07:13 EDTAWIArmstrong World completes refinancing of senior credit facility
Armstrong World Industries announced that on Friday March 15, it closed on a new $1.28B Senior Secured Credit Facility consisting of a $250M of revolving credit facility and a $575M term loan A, both of which mature in March of 2018, and a $450M term loan B which matures in March of 2020. Proceeds from this new credit agreement will be used to repay the company's previous credit agreement. The company expects that the transaction, which was led by BofA Merrill Lynch, JP Morgan and Barclays, will lower cash interest expense by approximately $8M annually. Fees, which are expected to be approximately $8M, will largely be amortized over the life of the facility.
News For AWI From The Last 14 Days
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October 29, 2014
10:20 EDTAWIHigh option volume stocks
High option volume stocks: KCG OI SWI SNY ITUB AWI GDOT PNRA EA ZLTQ
October 28, 2014
10:12 EDTAWIOn The Fly: Analyst Downgrade Summary
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05:36 EDTAWIArmstrong World downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Armstrong World Industries to Equal Weight citing execution issues and weakening customer trends following the company's Q3 results and lowered outlook. The firm dropped its price target for shares to $50 from $62.
October 27, 2014
07:05 EDTAWIArmstrong World sees FY14 EPS $2.00-$2.15, consensus $2.10
Sees FY14 revenue $2.68B-$2.72B, consensus $2.72B. Sees FY14 adjusted EBITDA $355M-$375M.
07:03 EDTAWIArmstrong World reports Q3 adjusted EPS 83c, consensus 78c
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