Greatbatch Amends Revolving Credit Facility
Greatbatch, Inc. (NYSE: GB), today announced that it has amended its revolving credit facility, which was set to expire in May of 2012. The new credit facility extends the maturity date to June of 2016 and increases the amount of credit available to $400 million from the $235 million under the old credit facility. Additionally, the amended terms allow for the repayment of the Company's $198 million of 2¼% Convertible Subordinated Debentures due in June 2013 as well as other corporate investments.
“We are pleased that we were able to secure this new credit facility well in advance of the expiration date of our previous credit facility and believe the terms are favorable given current market conditions,” stated Thomas J. Mazza, Senior Vice President & CFO. “Additionally, this new credit facility provides our Company with the financial flexibility and capacity to support our growth objectives over the next five years.”
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.