John Bean Technologies enters $300 million revolving credit facility

By Jennifer Chiou

New York, Dec. 3 - John Bean Technologies Corp. entered into on Nov. 30 a $300 million revolving credit facility with JPMorgan Chase Bank, NA as administrative agent , according to an 8-K filed with the Securities and Exchange Commission.

John Bean Technologies BV and John Bean Technologies AB are the additional borrowers.

The facility comes due on Nov. 30, 2017.

The company has the option to increase the capacity by up to an additional $150 million, subject to lender approval.

Proceeds will go towards general corporate purposes, including working capital and permitted acquisitions.

The facility replaced the credit agreement dated July 31, 2008.

John Bean is a Chicago-based technology services provider to high-value segments of the food processing and air transportation industries.

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