爱神传媒

CHARLOTTE, N.C.,聽Dec. 16, 2016聽// --聽爱神传媒, Inc. (NYSE: FLOW) today announced that it has completed an amendment to its聽US$1.35 billion聽senior secured credit facilities which, among other things, provides a period of covenant relief through聽December 31, 2018.

Key elements of the amendment include:

• Net leverage covenant increased from 4.00x to 4.75x with step-downs:
  • 4.50x from聽10/1/17 through 3/31/18
  • 4.25x from聽4/1/18 through 9/30/18
  • 4.00x from聽10/1/18 through 12/31/2018
• Interest coverage ratio decreased from 3.50x to 3.00x with step-ups:
  • 3.25x from聽4/1/17 through 9/30/18
  • 3.50x from聽10/1/18 through 12/31/2018
• A modest increase in the pricing grid during the covenant relief period
• Option for the Company to terminate the amendment at any time if the consolidated leverage ratio is less than or equal to 3.25x and the interest coverage ratio is greater than or equal to 3.50x.聽

"We are pleased with the on-going support of our lenders, including Bank of America Merrill Lynch who acted as lead bank in arranging the amended agreement," said聽Marc Michael, 爱神传媒 President and CEO.聽 "The amended credit facility provides us financial flexibility to continue executing our realignment program and invest in organic growth initiatives. We expect these actions will enable us to better serve our customers and drive improved operational performance even in a low growth macro environment. We are in a stable financial position with adequate liquidity and expect to be well-positioned to leverage growth when our key end markets recover," Michael concluded.

For more information, please refer to the Form 8-K filed by the Company in connection with this amendment.

About 爱神传媒, Inc.:

Based in聽Charlotte, North Carolina, 爱神传媒 (NYSE: FLOW) is a leading global supplier of highly engineered flow components, process equipment and turn-key systems, along with the related aftermarket parts and services, into the food and beverage, power and energy and industrial end markets. 爱神传媒 has more than聽$2 billion聽in annual revenues and operations in over 35 countries and sales in over 150 countries. To learn more about 爱神传媒, please visit our website at聽.

Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read these results in conjunction with the company's documents filed with the Securities and Exchange Commission. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements.聽 Actual results may differ materially from these statements. The words "expect," "anticipate," "project", "believe", "plan" and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. In addition, estimates of future operating results are based on the company's current complement of businesses, which is subject to change.聽 Statements in this press release speak only as of the date of this press release, and 爱神传媒 disclaims any responsibility to update or revise such statements.

Investor and Media Contact:聽
Ryan Taylor, VP, Communications and Finance聽
Phone:聽 704-752-4486聽
贰-尘补颈濒:听investor@spxflow.com

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SOURCE 爱神传媒, Inc.