LMI Aerospace closes USD250m senior secured notes offering

23 June 2014

LMI Aerospace, Inc. (NASDAQ: LMIA) said it has completed its previously announced private placement of USD250m in aggregate principal amount of its 7.375 percent second-priority senior secured notes due 2019.

LMI Aerospace used the net proceeds of the offering, together with borrowings under its new revolving credit facility, to repay the full amounts outstanding under its existing senior secured credit facility, and to pay related fees and expenses.

Concurrent with the completion of the offering, LMI Aerospace also entered into a new USD90m revolving credit facility that matures in June 2019. The closing of the offering and the new revolving credit facility completes LMI Aerospace´s refinancing of its existing credit facility, consisting of its USD125m revolving credit facility and USD225m term loan B facility that were scheduled to mature in December 2017 and December 2018, respectively.

LMI Aerospace is a leading supplier of complex structural assemblies, components and kits and provider of design engineering services to the aerospace and defense markets. Through its aerostructures segment, LMI primarily fabricates, machines, finishes, integrates, assembles and kits formed close tolerance aluminum, specialty alloy and composite components and higher level assemblies for use by the aerospace and defense industries.

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