05:16 PM EDT, 07/11/2024 (MT Newswires) -- Astronics ( ATRO ) said late Thursday it expanded its revolving line of credit to $200 million from $115 million and refinanced its term loan.

The company said it had $128 million drawn on the facility at closing.

The refinancing consists of an expanded asset-based line of credit and a reduced, lower-cost term loan. The new $55 million term loan has an interest rate of secured overnight financing rate plus 5.5% to 6.75% varying based on the company's consolidated leverage ratio, Astronics ( ATRO ) said.

The expanded revolver and the new term loan will both mature on July 11, 2027, the company said.