Zebra Technologies Closes Facility With J.P. Morgan, Others
Zebra Technologies Corporation, a provider in technologies that extend real-time visibility into business operations, announced the closing of a new $250 million revolving credit facility. This facility, which matures in October 2017, replaces Zebra’s $100 million revolving credit facility, which was scheduled to mature in August 2013. J.P. Morgan Securities and RBS Citizens served as joint bookrunners and joint lead arrangers.
“The increased borrowing capacity under this new, expanded credit facility gives Zebra greater flexibility in using its resources for enhancing shareholder value,” stated Michael C. Smiley, Zebra’s chief financial officer. “We are very pleased to be working with the support of our strong bank lending group.”
Zebra can use its credit facility for working capital purposes and general corporate purposes, including, but not limited to, the repurchase of the company’s stock and the funding of potential acquisitions.
The revolving credit facility consists of participations from JPMorgan Chase Bank as administrative agent, RBS Citizens as syndication agent, Wells Fargo as documentation agent, Bank of America, the Northern Trust Company, PNC Bank and HSBC Bank USA.