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Meridian Bioscience Enters Deal for $125M Credit Facility

NEW YORK (GenomeWeb) – Meridian Bioscience has entered into a $125 million revolving credit facility credit agreement, it said in a regulatory filing today.

The credit agreement, which took effect on May 24, replaces the Cincinnati-based company's loan and security agreement dated Aug. 1, 2007, and makes available to Meridian a revolving credit facility up to $125 million in aggregate amount. The credit facility expires in May 2024.

The company said it has drawn about $49 million under the credit facility to repay its previously outstanding term loan and to cover closing costs. It added that it expects to finance its acquisition of GenePOC with $19 million of cash on hand and an additional draw under the credit facility of about $27 million.

PNC Bank, National Association is the administrative agent on the deal, PNC Markets is joint lead arranger and sole bookrunner, and Fifth Third Bank is joint lead arranger and syndication agent.

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