Gehl, worldwide distributor and manufacturer of compact construction equipment, recently announced that it had entered into a $125 million unsecured revolving credit agreement with a syndicate of banks, including Bank of Montreal as agent for the lenders. The five-year agreement replaces an existing agreement with the same bank group that was entered into last June. Borrowings under the new agreement were used to repay in full Gehl’s existing senior secured borrowings under the previous terms.
The new facility will be used to repay other short-term debt and for general corporate purposes.
