Furmanite Worldwide increases revolving credit facility to $100 million

By Tali David

Minneapolis, Sept. 3 - Furmanite Worldwide, Inc. and certain foreign subsidiaries entered into an amendment to its credit agreement on Aug. 27, increasing the revolving credit facility to $100 million from $75 million, according to an 8-K filed with the Securities and Exchange Commission.

JP Morgan Chase, NA is the administrative agent, swingline lender and letter of credit issuer.

The increase is due to the exercising of the $25 million accordion feature contained in the credit agreement. The amendment also re-established the accordion feature at $25 million.

Additional modifications to the credit agreement include increases to the portion of the credit limit available under the credit agreement available for swingline loans to the company.

Furmanite is a Houston-based specialty industrial services company.

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