Daily News: February 4, 2013

JPMorgan Agents Measurement Specialties Facility Expansion


Measurement Specialties announced it entered into the fourth amendment to its senior secured credit agreement with a lender group led by JPMorgan Chase, as administrative agent.

The company said the amendment increased the aggregate commitments to $185 million from $110 million, providing the company with $75 million of increased borrowing availability to support company growth, reset the accordion feature to $75 million for future expansion, and added PNC Bank to the bank group.

Hampton, VA-based Measurement Specialties designs and manufactures sensors and sensor-based systems to measure precise ranges of physical characteristics such as pressure, temperature, position, force, vibration, humidity and photo optics.