FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

PNC Bank Agents $125MM Revolver for Meridian Bioscience

Date: Jun 03, 2019 @ 08:47 AM
Filed Under: Biotechnology

Meridian Bioscience has entered into a $125 million revolving credit facility credit agreement, it said in a regulatory filing.

The credit agreement, which took effect on May 24, replaces the Cincinnati-based company's loan and security agreement dated Aug. 1, 2007, and makes available to Meridian a revolving credit facility up to $125 million in aggregate amount. The credit facility expires in May 2024.

The company said it has drawn about $49 million under the credit facility to repay its previously outstanding term loan and to cover closing costs. It added that it expects to finance its acquisition of GenePOC with $19 million of cash on hand and an additional draw under the credit facility of about $27 million.

PNC Bank, National Association is the administrative agent on the deal, PNC Capital Markets is joint lead arranger and sole bookrunner, and Fifth Third Bank is joint lead arranger and syndication agent.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.