Kion drives back maturities with amend and extend

German forklift truck maker Kion Group (B/B3) has secured two year extensions to a large proportion of its senior credit facilities as well gaining the consent of its lenders to make amendments to its documentation that will allow it to repay its second lien loans.

  • 09 Jul 2012

Other amendments are understood to include an increase in Kion’s acquisitions allowance, the elimination of certain financial covenants once specified leverage ratios are achieved and additional flexibility to pay dividends in the event of a successful IPO.

KKR and Goldman Sachs-owned company Kion approached its lenders on June 8 ...

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