ResMed looks to arrange new credit facility by February 2014

By Jennifer Chiou

New York, May 1 - ResMed Inc. is in negotiations to arrange a new credit facility that it expects to be in place by the Feb. 10, 2014 termination date of its current facility, according to a 10-Q filed with the Securities and Exchange Commission.

As of March 31, the company said that it was in compliance with the debt covenants under its credit agreement. There is $340 million outstanding.

Union Bank, NA is the administrative agent, swingline lender and letter-of-credit issuer. HSBC Bank USA, NA is the syndication agent.

San Diego-based ResMed Inc. is a developer, manufacturer and marketer of products for the diagnosis and treatment of sleep-disordered breathing.

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