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J.P. Morgan Securities, U.S. Bank Arrange $200MM Facility for Meyers Industries

December 17, 2013, 07:26 AM
Filed Under: Manufacturing

Myers Industries, Inc. entered into a five-year, $200 million senior secured revolving credit facility with seven lending banks, replacing its previous senior credit facility that was scheduled to expire in November 2015. The senior credit facility was jointly arranged by J. P. Morgan Securities LLC and U.S. Bank National Association. JPMorgan Chase Bank, National Association, served as Administrative Agent.

“This credit facility provides thecompany long-term financing at attractive pricing and flexibility through 2018. Together with our recent $100 million private placement of notes, the company has capacity to fund its strategic initiatives,” said Greggory Branning, Senior Vice President and Chief Financial Officer.

Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The company is also the largest wholesale distributor of tools, equipment, and supplies for the tire, wheel, and undervehicle service industry in the U.S.

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