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Bio-Rad Secures Credit Facility of up to $200M

NEW YORK (GenomeWeb) – Bio-Rad Laboratories said on Thursday it has entered into a credit agreement with lenders to borrow up to $200 million.

In a document filed with the US Securities and Exchange Commission, Bio-Rad said the agreement is with JP Morgan Chase Bank, as the administrative agent; Union Bank and Wells Fargo Bank, National Association as co-syndication agents; and the Bank of America and HSBC Bank USA, National Association as co-documentation agents.

Bio-Rad can borrow a maximum of $200 million on a revolving basis, including up to $25 million of swingline loans, and up to $50 million of letters of credit. The total amount of the borrowings can be increased by an additional $200 million if the lenders consent to certain conditions.

Funds from the credit facility may be used for acquisitions, working capital, and other general corporate purposes. The agreement matures on June 20, 2019, although it may be extended up to three times if mutually agreed upon by Bio-Rad and the lenders.

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