NEW YORK (GenomeWeb) – In a filing with the US Securities and Exchange Commission, PerkinElmer reported it has entered into a new credit agreement with the ability to borrow up to $1 billion through Aug. 11, 2021.
The company said it will use the proceeds from the unsecured revolving credit facility for working capital, capital expenditures, repurchases of equity, dividends, permitted acquisitions, and to pay fees and expenses for the new credit agreement and to terminate its prior credit agreement.
JPMorgan Chase Bank is acting as administrative agent; Bank of America and Barclays Bank acted as co-syndication agents; Citibank, Mizuho Bank, TD Bank, US Bank National Association, and Wells Fargo Bank National Association acted as co-documentation agents; and JPMorgan Chase Bank, Merrill Lynch, Pierce, Fenner & Smith, and Barclays Bank acted as joint bookrunners and joint lead arrangers.
The company also noted that this new credit agreement replaces its previous unsecured revolving credit agreement dated as of Jan. 8, 2014, which provided for a $700 million unsecured revolving credit facility.
PerkinElmer recently reported a 2 percent increase in second quarter revenues to $572.7 million, net income of $63.9 million, and adjusted earnings per share of $.67. The company also said that it had acquired next-generation sequencing company Bioo Scientific for an undisclosed amount.