LMI Aerospace Announces Closing of Senior Secured Credit Facilities

LMI Aerospace Announces Closing of Senior Secured Credit Facilities

ST. LOUIS, Feb. 5, 2013 (GLOBE NEWSWIRE) -- LMI Aerospace, Inc. (Nasdaq:LMIA),
a leading supplier of structural assemblies, kits and components and provider
of design engineering services to the aerospace and defense industries,
announced it has successfully completed the syndication of $350 million senior
secured credit facilities to amend the senior secured credit facilities LMI
initially entered into on December 28, 2012. RBC Capital Markets and Wells
Fargo Securities, LLC, as Joint Lead Arrangers and Joint Book-Runners, led the
closing of the senior credit facilities. RBC Capital Markets acted as
Administrative Agent, and Wells Fargo Bank, N.A. was Syndication Agent.

The senior secured credit facilities consist of a five-year $125 million
revolving credit facility and a six-year $225 million term loan facility. As a
result of strong investor demand, the new revolving credit facility was
increased to $125 million from the initially announced figure of $75 million.
In addition, the pricing on the $225 million six-year term loan facility has
been reduced to a margin, as syndicated, of LIBOR plus 350 basis points in
comparison to the initially announced margin at closing of LIBOR plus 475
basis points.The amended term loan facility, as syndicated, includes a 1.25
percent LIBOR floor consistent with the initially announced term loan
facility.The syndicated facilities refinance borrowings incurred in
connection with the December 28, 2012, closing of LMI's $240 million purchase
of Valent Aerostructures, LLC.

"We are very pleased with the results of the financing we completed today.The
larger revolving credit facility should improve our liquidity and should
provide increased operational flexibility," said Ronald S. Saks, Chief
Executive Officer of LMI."As a result of the impact of the lower cost of
debt, the acquisition of Valent is now expected to be accretive to LMI's 2013
earnings, rather than slightly dilutive, as was originally announced in the
December 6, 2012, press release.Additionally, we anticipate the accretive
impact will extend to LMI's 2014 earnings.We intend to provide more detail on
guidance during our year-end conference call and press release."

LMI plans to provide updated guidance for FY 2013, which will reflect the
Valent acquisition, together with its release of LMI's 2012 annual financial
results.

LMI Aerospace, Inc. is a leading provider of design engineering services and
supplier of structural assemblies, kits and components to the aerospace and
defense markets.Through its Aerostructures segment, the company primarily
fabricates, machines, finishes, integrates, assembles and kits formed close
tolerance aluminum and specialty alloy and composite components and higher
level assemblies for use by the aerospace, defense and technology industries.
It manufactures more than 30,000 products for integration into a variety of
aircraft platforms manufactured by leading original equipment manufacturers
and Tier 1 aerospace suppliers.Through its Engineering Services segment,
operated by its D3 Technologies, Inc. subsidiary, the company provides a
complete range of design, engineering and program management services,
supporting aircraft product lifecycles from conceptual design, analysis and
certification through production support, fleet support and service life
extensions via a complete turnkey engineering solution.

The LMI Aerospace, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4971

Valent is a leading provider of complex structural components, major
sub-assemblies and machined parts for OEM and Tier 1 airframe manufacturers in
the aerospace and defense industries.Valent providescontent for several
major commercial, business jet and military platforms, including the Boeing
737, 747-8, 777, 787 and V-22 and the Gulfstream G650.The Boeing Company has
previously awarded Supplier of the Year to Valent, and in 2011, Valent won a
Spirit AeroSystems Platinum Supplier Award.

This news release includes forward-looking statements regarding LMI's business
prospects and opportunities. The words "may," "could," "should," "estimate,"
"project," "forecast," intend," "expect," "anticipate," "believe," "target,"
"plan," and similar expressions are intended to identify forward-looking
statements.Our forward-looking statements are estimates and projections
reflecting management's judgment based on currently available information and
involve a number of risks and uncertainties that could cause actual results to
differ materially from those suggested by the forward-looking statements.
These risks and uncertainties include those discussed in the company's Annual
Report on Form 10-K for the year ended December 31, 2011, and other reports
filed with the U.S. Securities and Exchange Commission, which are incorporated
herein by reference.You should not consider any such list to be a complete
set of all potential risks or uncertainties.Moreover, forward-looking
statements are based on our current expectations and speak only as of the date
when made, and we undertake no obligation to publicly update or revise any
forward-looking statements except as required by law.As a result of the
foregoing, you should not place undue reliance on forward-looking statements.

CONTACT: Ed Dickinson
         Chief Financial Officer, 636.916.2150

LMI Aerospace, Inc. Logo
 
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