John Bean Technologies entered into the third amendment to its February 10, 2015 credit agreement, which added a $150 million incremental term loan to the available funds.

According to a related 8-K filing, Wells Fargo Bank acted as administrative agent and one of the term-1 lenders.

As a result of the amendment, John Bean has $100 million of remaining availability under expansion option to increase commitments or incur additional term loans.

John Bean agreed to pay the incremental term-1 loan in quarterly principal installments of $1.85 million beginning on March 31, 2018. The loan will mature on February 10, 2020.

The incremental term-1 loan will bear interest on the same terms as the revolving loans under the credit agreement, except that with respect to term loan borrowings designated by the borrowers as ABR borrowings, the applicable rate will be between 0.15% and 1% depending on John Bean’s leverage ratio and with respect to term loan borrowings designated by the company as eurocurrency borrowings, the applicable rate will be between 1% and 2% depending on the company’s leverage ratio.