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JPMorgan Chase Provides $30MM Credit Facility to Heska Corporation

July 28, 2017, 07:08 AM
Filed Under: Veterinary

Heska Corporation announced that it has entered into a new $30 million credit agreement with JPMorgan Chase, Inc. The credit agreement matures in July 2020 and replaces the Company's existing $15 million asset based line of credit. The new facility, which may be increased by an additional $20 million subject to conditions, provides access to a new revolving credit facility that can be used for general working capital, capital investments and acquisitions.

John McMahon, Vice President and Chief Financial Officer of Heska, stated, "As Heska pursues strategic growth opportunities, the incremental liquidity, enhanced flexibility, and expandability of this new credit facility represents another key piece in place for Heska. Transitioning from asset-based borrowing to a more traditional revolving line of credit, at more favorable terms, allows us to maximize our liquidity options. We are honored to have earned the support and confidence of JPMorgan Chase and look forward to growing this new relationship."

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