NEW YORK (GenomeWeb) – In a filing with the US Securities and Exchange Commission late last week, Waters reported that it has entered into a credit agreement with JP Morgan Chase that provides the company with a five-year unsecured $300 million term loan and a $1.5 billion revolving facility.
The agreement also allows Waters to request increases to the loan and facility by amounts of not less than $25 million, up to a total additional amount of $200 million. However, JP Morgan Chase is not obligated to increase its loan and Waters can bring in additional lenders.
On Nov. 30, Waters borrowed the $300 million term loan and $1.01 billion under the revolving facility, which the firm said it is using to repay outstanding amounts under a previous credit agreement it entered into with JP Morgan Chase and a group of lenders on June 25, 2013.
Both the term loan and revolving facility mature on Nov. 30, 2022 and no scheduled prepayments are required before that date.