Graybar Electric Co., St. Louis, has completed the amendment and extension of its unsecured revolving credit facility. The amendment, among other things, extended the company’s five-year revolving credit facility, increased the availability to $550 million and increased the accordion feature to $300 million. The new facility matures in June 2019 and will support Graybar’s general working capital needs as well as its growth initiatives.
Bank of America was the lead institution in the transaction, and Merrill Lynch served as sole bookrunner. Merrill Lynch, J.P. Morgan, SunTrust Robinson Humphrey, U.S. Bank and PNC Capital Markets acted as joint lead arrangers. Commerce Bank, Regions Bank, Wells Fargo, Fifth Third Bank, Comerica and Bank of Montreal also participated in the transaction.