Zebra Technologies Corp. closed a new $250 million revolving credit facility.
The facility, which matures in October 2017, replaces Zebra?s $100 million revolving credit facility, which was scheduled to mature in August 2013.
?The increased borrowing capacity under this new, expanded credit facility gives Zebra greater flexibility in using its resources for enhancing shareholder value,? Zebra?s Chief Financial Officer (COO) Michael C. Smiley said.
Zebra can use its credit facility for working capital purposes and general corporate purposes, including, but not limited to, the repurchase of the company?s stock and the funding of potential acquisitions.
J.P. Morgan Securities LLC and RBS Citizens NA served as joint bookrunners and joint lead arrangers.
The revolving credit facility consists of participations from JPMorgan Chase Bank NA, as administrative agent, RBS Citizens NA, as syndication agent, Wells Fargo NA, as documentation agent, Bank of America NA, Northern Trust Co., PNC Bank NA and HSBC Bank USA NA.
Source: PR Newswire
Source: http://www.markettalk.com/zebra-technologies-closes-250m-credit-agreement-3658/
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