Newspaper article Sarasota Herald Tribune

Sun Hydraulics Triples Credit Line to $300 Million

Newspaper article Sarasota Herald Tribune

Sun Hydraulics Triples Credit Line to $300 Million

Article excerpt

MANUFACTURING

SARASOTA -- Sun Hydraulics Corp. has tripled its credit agreement with lenders to $300 million.

The manufacturer of screw-in hydraulic cartridge valves and manifolds said the new credit agreement amends the previous $100 million revolving credit line that it entered into last July.

The new credit line, announced in a filing last week with the U.S. Securities and Exchange Commission, is available through November 2021.

Lenders involved in the transaction include PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and JPMorgan Chase Bank.

Sarasota-based Sun Hydraulics last month announced a deal to pay $200 million for the power controls and vehicle technologies lines of business of Oklahoma-based Enovation Controls LLC. …

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