LMI Aerospace, a supplier of structural assemblies, kits and components and provider of design engineering services to the aerospace and defense industries, successfully completed the syndication of $350 million senior secured credit facilities to amend the senior secured credit facilities LMI initially entered into on December 28, 2012. RBC Capital Markets and Wells Fargo Securities, LLC, as joint lead arrangers and joint book-runners, led the closing of the senior credit facilities. RBC Capital Markets acted as administrative agent, and Wells Fargo Bank, N.A. was syndication agent.

The senior secured credit facilities consist of a five-year $125 million revolving credit facility and a six-year $225 million term loan facility. As a result of strong investor demand, the new revolving credit facility was increased to $125 million from the initially announced figure of $75 million.  In addition, the pricing on the $225 million six-year term loan facility has been reduced to a margin, as syndicated, of LIBOR plus 350 basis points in comparison to the initially announced margin at closing of LIBOR plus 475 basis points. The amended term loan facility, as syndicated, includes a 1.25 percent LIBOR floor consistent with the initially announced term loan facility. The syndicated facilities refinance borrowings incurred in connection with the December 28, 2012, closing of LMI's $240 million purchase of Valent Aerostructures, LLC.

Through its Aerostructures segment, LMI primarily fabricates, machines, finishes, integrates, assembles and kits formed close tolerance aluminum and specialty alloy and composite components and higher level assemblies for use by the aerospace, defense and technology industries. It manufactures more than 30,000 products for integration into a variety of aircraft platforms manufactured by leading original equipment manufacturers and Tier 1 aerospace suppliers. Through its Engineering Services segment, operated by its D3 Technologies, Inc. subsidiary, the company provides a complete range of design, engineering and program management services, supporting aircraft product lifecycles from conceptual design, analysis and certification through production support, fleet support and service life extensions via a complete turnkey engineering solution.