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Waters Pays off Debt Obligation Early

NEW YORK (GenomeWeb News) – Waters disclosed in a filing with the US Securities and Exchange Commission today that it has used existing cash balances to prepay $150 million in debt borrowed earlier this year from JPMorgan Chase Bank and certain financial institutions.
 
The original maturity of the term loan facility was Jan. 11, 2012. The firm said that there was no penalty incurred from prepaying the debt obligation.
 
Waters said that it paid the debt early in order to reduce interest expense.
 
The company had borrowed the $150 million in March to repay amounts outstanding under the revolving tranche of its existing multi-borrower credit agreement dated Jan. 11, 2007. That credit agreement covered a $500 million term loan facility and $650 million revolving credit facility, both of which mature on Jan. 11, 2012.
 
 

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