Bank of America Agents $750 Million for Life Technologies
Life Technologies Corporation, along with its foreign subsidiaries, announced it has entered into a five-year $750 million revolving credit agreement with Bank of America as administrative agent, swing line lender and L/C issuer.
The credit agreement replaces the company’s prior $500 million amended and restated credit agreement entered into on May 28, 2010.
Proceeds of the credit facility will be used for the ongoing working capital and general corporate purposes of the company and its subsidiaries, the company said in its 8-K filing. The company has the option to increase the amount under its credit facility up to $250 million.
Life Technologies is a global biotechnology company dedicated to improving the human condition. The company manufactures both molecular diagnostic and research use only products.