Albany Molecular lifts three-year revolver commitments to $75 million

By Susanna Moon

Chicago, Dec. 30 – Albany Molecular Research, Inc. fully exercised the accordion under its three-year revolving credit facility, lifting commitments to $75 million from $50 million, according to an 8-K filing with the Securities and Exchange Commission.

The company amended its senior secured credit agreement on Dec. 23 with Barclays Bank plc as administrative agent, collateral agent, letter-of-credit issuer and swingline lender.

Proceeds will be used for working capital and other general corporate purposes.

Albany, N.Y.-based Albany Molecular is a drug discovery services and manufacturing company.

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