Loan & DebtJun 12, 2026, 04:42 PM
Frequency Electronics Secures $10M Credit Facility from JPMorgan Chase
AI Summary
Frequency Electronics, Inc. has entered into a $10 million senior secured revolving credit facility with JPMorgan Chase Bank, N.A. The three-year facility, maturing on June 12, 2029, includes an option to increase the credit line by an additional $10 million. The company's obligations are secured by a pledge of substantially all of its assets and are guaranteed by its subsidiary, FEI-Zyfer, Inc. Proceeds are intended for general corporate purposes and working capital.
Key Highlights
- Frequency Electronics Inc. secured a $10 million, three-year revolving credit facility with JPMorgan Chase Bank.
- The facility includes an option to increase the aggregate amount by an additional $10 million, subject to conditions.
- Up to $5 million of the facility is available for letters of credit.
- The credit agreement matures on June 12, 2029.
- The company's obligations are guaranteed by its wholly-owned subsidiary, FEI-Zyfer, Inc.
- All or substantially all assets of the company and its subsidiary are pledged as collateral.
Price Impact
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