Flow International gets $100 million credit facility

By Sara Rosenberg

New York, June 17 - Flow International Corp. closed on a new $100 million five-year credit facility, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Bank of America acted as the lead arranger and bookrunner on the deal that was completed on June 9, with U.S. Bank the documentation agent.

The facility consists of a $65 million revolver and a $35 million term loan.

Pricing can range from Libor plus 125 basis points to 200 bps depending on leverage.

Proceeds from the term loan may be used to fund the acquisition of OMAX Corp.

This new facility replaces the company's previous $45 million facility that was set to mature on July 8.

Flow is a Kent, Wash.-based developer and manufacturer of ultrahigh-pressure waterjet and abrasive waterjet cutting and machining technology.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.