CBIZ credit facility amendment includes change in pricing

By Sara Rosenberg

New York, Dec. 15 - CBIZ Inc.'s recent unsecured credit facility amendment changed pricing on the deal to a range of Libor plus 200 basis points to 300 bps based on leverage, according to an 8-K filed with the Securities and Exchange Commission on Monday.

As was previously reported, the amendment also increased the size of the facility to $214 million from $150 million, with a $36 million accordion feature.

Bank of America is the administrative agent on the deal.

The amendment, which was effective as of Dec. 10, provides the company with greater flexibility in implementing its strategic growth plan.

CBIZ is a Cleveland-based provider of professional business services that help clients better manage their finances, employees and technology.

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