Today's LIBOR Rates
July 28, 2010
1 M |
0.31563 |
 |
3 M |
0.47500 |
|
6 M |
0.68794 |
|
1 YR |
1.06438 |
|
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TriMas Amends LIBOR-Based Credit Facilities |
December 17, 2009
According to a company press release, TriMas, a multinational corporation specializing in engineered and applied products, has amended credit facilities that have rates tied to LIBOR, the London Interbank Offered Rate. LIBOR is a filtered average of rates that banks charge each other for unsecured, short-term loans.
TriMas will extend maturity on $220 million of a $252 million term loan from 2013 to 2015. Interest on the amended credit facility will be LIBOR plus 4% with a LIBOR floor of 2%, creating an effective minimum rate of 6%. An additional $70 million will have a maturity extension from 2011 to 2013. Cost of funds on this amended amount will be LIBOR plus 4% with no LIBOR floor.