Check-printing company Deluxe closed a $200 million credit facility agented by JPMorgan.

Fifth Third Bank served as syndication agent. U.S. Bank, Union Bank and PNC were co-documentation agents for the transaction.

The amended agreement allowed the company to draw from a new term loan facility in the aggregate principal amount of $200 million to fully repay all of its obligations under its 6% senior notes due 2020, which the company intends to redeem on November 15, 2016. The term loan facility will be fully drawn on the date that it is funded and amounts repaid or prepaid in respect of the term loan may not be re-borrowed.

There is approximately $423 million outstanding under the amended credit agreement and the net available borrowings are approximately $89.2 million. The maturity date remains at February 21, 2019.