Kronos gets $100 million revolver

By Sara Rosenberg

New York, July 17 - Kronos Inc. closed on a new $100 million three-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Monday.

Citizens Bank of Massachusetts acted as the lead bank on the deal that was completed on July 11.

Borrowings under the revolver carry an interest rate ranging from Libor plus 75 to 150 basis points, based on funded debt to EBITDA.

Proceeds will be used to help fund the acquisition of Unicru Inc. for a purchase price of about $150 million in cash.

Kronos is a Chelmsford, Mass.-based provider of software and services that empower organizations worldwide to effectively manage their workforce.

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