Sauer-Danfoss reaches new credit agreement
Ames-based Sauer-Danfoss Inc. has entered into a new credit agreement with its majority stockholder, Danfoss A/S, which replaces a prior credit facility that was set to expire on April 29, 2011. The new agreement, which the company said will substantially lower its ongoing borrowing costs, provides a five-year loan term of approximately $200 million and a three-year revolving credit facility of approximately $300 million.
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