VOXX International Corporation Completes Refinancing of Credit Facilities

HAUPPAUGE, N.Y., April 28, 2016, VOXX, /PRNewswire/ VOXX International Corporation (NASDAQ: VOXX) today announced that it has successfully completed the refinancing of its global Revolving Credit Facility. The Company has entered into an amended and restated $140.0 million facility, with a $15.0 million sublimit for letters of credit, and the right to increase the maximum revolver amount to $175.0 million. The outstanding principal under such credit facility carries an interest rate of LIBOR plus 1.75% to 2.25%, based on excess availability, and matures on April 26, 2021. The Company also secured a $15.0 million term loan, due July 1, 2020, and which carries an interest rate of LIBOR plus 4.25%. Wells Fargo Bank, National Association is the lead bank, with Key Bank, National Association, Citibank N.A. and HSBC Bank USA, National Association, all participants in this combined $155.0 million refinancing. Pat Lavelle, President and CEO of VOXX International Corporation stated, This new f


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