The credit agreement provides for a five-year $300 million non-amortizing revolving loan facility, with maturity in October 2012. Loans under the facility will bear interest at varying rates ranging from 0.70% to 1.25% over Eurodollar Rate, depending upon the ratio of outstanding debt to earnings before interest, taxes and depreciation.
The new credit agreement replaces the previous credit agreement, as amended, originally dated April 1, 2003, which has been terminated. Currently, no funds have been borrowed under the new credit facility.
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