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Stock Market & Financial Investment News

News Breaks
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.
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April 21, 2014
07:36 EDTAWIArmstrong World upgraded at KeyBanc
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06:36 EDTAWIArmstrong World upgraded to Buy from Hold at KeyBanc
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