SPX Corporation Enters $1.2 Billion Senior Credit Facilities

SPX Corporation entered into a credit agreement with a syndicate of lenders for $1.2 billion in committed senior secured financing, consisting of a term loan and revolving credit facilities. The financing is intended to support the company's operations and repay existing debt, with initial funding expected near the end of Q3 2015.

“On September 1, 2015 (the “Effective Date”), SPX Corporation (the “Company”) and certain of its subsidiaries (together with the Company, “we” or “us”) entered into a credit agreement (the “Credit Agreement”) with a syndicate of lenders that provided for committed senior secured financing in the aggregate amount of $1.2 billion, consisting of the following facilities (collectively, the “Senior Credit Facilities”), each with a final maturity of September 1, 2020:”

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