Vector Security Secures $450 Million Credit Facility
Vector Security — a provider of residential and commercial security and automation solutions — announced today that, effective June 3, it has entered into a $450 million credit agreement led by PNC Bank, National Association as administrative agent; PNC Capital Markets LLC as sole bookrunner and joint lead arranger; with Bank of America and U.S. Bank acting as joint lead arrangers and syndication agents.
This new credit agreement provides for a $450 million revolving credit facility commitment, with a $150 million increase option subject to the terms and conditions outlined in the credit agreement. The credit agreement matures in June 2024 and provides Vector Security with a significant increase in its borrowing capacity with an improved structure, and attractive interest rate options.