Daily News: December 17, 2013

JPMorgan Agents Myers Industries $200MM Facility

Myers Industries announced that on Friday, December 13, 2013, the company entered into a five-year, $200 million senior secured revolving credit facility with seven lending banks, replacing its previous senior credit facility that was scheduled to expire in November 2015.

The facility was jointly arranged by J. P. Morgan Securities and U.S. Bank National Association. JPMorgan Chase Bank served as administrative agent.

“This credit facility provides the company long-term financing at attractive pricing and flexibility through 2018. Together with our recent $100 million private placement of notes, the Company has capacity to fund its strategic initiatives,” said Greggory Branning, SVP and CFO.

Myers Industries is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets.