Mac-Gray repays, terminates credit agreement upon completing merger

By Marisa Wong

Madison, Wis., Jan. 9 - Mac-Gray Corp. repaid in full and terminated its amended and restated senior secured credit agreement dated Feb. 29, 2012 with Bank of America NA as administrative agent and collateral agent, according to an 8-K filing with the Securities and Exchange Commission.

Mac-Gray repaid and terminated the facility in connection with its merger with CSC ServiceWorks, Inc. (Coinmach).

Coinmach's acquisition of Mac-Gray and the paydown were both completed on Thursday.

Waltham, Mass.-based Mac-Gray is a provider of debit-card- and coin-operated laundry facilities in multi-unit housing facilities. Coinmach is a Plainview, N.Y.-based provider of multi-family housing and commercial laundry solutions and air vending services.

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