Cantel Medical expands credit facility

|About: Cantel Medical Corpora... (CMN)|By:, SA News Editor

Cantel Medical (CMN) expands its borrowing capacity to $250M an increase of $100M from its previous line of credit.

The 5-year agreement includes an option to increase it to $350M contingent on additional commitments.

Other features of the new facility are lower borrowing fees, a lower annual commitment fee and the ability to borrow in all major currencies.

The company intends to use the new line of credit to refinance its borrowings under its current facility, CAPEX, acquisitions and general corporate purposes.

Bank of America leads the banking group that includes Wells Fargo and PNC.