Dal-Tile International Inc. recently announced a $400 million refinancing of its credit facilities. The transaction includes a $325 million five-year extension of the company's credit facility, comprised of a $125 million Term Loan A and $200 million revolving credit, and a $75 million accounts receivable securitization. The lead arranger and administrative agent of the credit facility is J.P. Morgan Chase & Co., with Banc of America Securities as syndication agent, and Credit Lyonnais, First Union Securities and Mizuho Financial Group as co-documentation agents. The administrative agent of the securitization facility is Credit Lyonnais. "We are pleased to have such strong support from our bank group on this transaction," said Christopher Wellborn, executive vice president and CFO. "This refinancing will provide more flexibility to pursue strategic initiatives in the years to come while allowing us to continue to reduce our debt."