Allegion plc Completes Refinancing of Senior Credit Facility
November 19, 2021 at 07:30 am EST
Share
Allegion plc has successfully completed the refinancing of its existing senior unsecured credit facility. The new five-year credit facility is unsecured, has investment grade terms similar to the credit facility it replaces and provides Allegion with $250 million of term loans and $500 million of commitments for revolving loans ? a portion of which may be used for letters of credit and swingline loans. The initial outstanding borrowing under the new credit facility, as of the closing on Nov. 18, 2021, replaced the outstanding borrowings under the existing senior unsecured credit facility. The new revolving facility, including the letters of credit and swingline loans, may be incurred in U.S. Dollars, Euros and Pounds Sterling. Loans under the new term loan facility will mature, and commitments under the new revolving facility will terminate on Nov. 18, 2026.
Allegion plc specializes in manufacturing and marketing security systems. Products are sold under the Cisa, Interflex, LCN, Schlage, Von Duprin, Aptiq, Bocom, Briton, Bricard, Dexter, Falcon, Glynn-Johnson, Ito Kilit, Ives, Kryptonite, Legge, Normbau, Steelcraft and Xceedid brands. The group's activity is organized around 3 areas:
- company securities: manufacturing of door frames and accessories, identification systems, access control, door locking, etc.;
- building security: manufacturing of mechanical and electronic locks and portable locking systems;
- city security: manufacturing of vehicles video surveillance, control and detection systems, access control in municipal buildings and in parking garages.
The United States account for 75.5% of net sales.
ALLEGION PLC 
