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Applera Expands Access to Credit to $200M and Higher

NEW YORK, April 21 (GenomeWeb News) - Applera has entered into a five-year $200 million unsecured credit agreement with a group of lenders, according to an SEC document the company filed yesterday.

 

The new agreement replaces an existing $50 million revolving credit agreement that was scheduled to mature on April 20, the company said in the filing. The new credit facility, which ABI will use for general corporate purposes, can increase to $250 million as long as the company maintains a consolidated net worth of at least $900 million and a debt-to-capitalization ratio of no more than .50 to 1.00, according to the document.

 

Applera, which will report its financials next week, is currently debt-free and holds some $650 million in cash.

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