AngioDynamics, a provider of minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, entered into a new credit facility and repaid and terminated its existing credit facilities.

JPMorgan Chase, Merrill Lynch and KeyBank served as joint bookrunners and joint lead arrangers. JPMorgan Chase will also serve as administrative agent on the new credit facilities. The facilities include a $100 million term loan A and a $150 million revolving credit facility. The company will retire all existing loans and terminate all existing commitments under its existing credit facilities with the proceeds of the new facilities.

The new credit facility will further strengthen AngioDynamics’ capital structure and provide greater flexibility to make investments that support its growth strategy. In addition, AngioDynamics announced that its board of directors has authorized a repurchase of up to $25 million of the company’s common stock.

“This new credit facility will provide greater flexibility for our business moving forward and improve our capital structure,” said Michael Greiner, chief financial officer. “We are confident that this facility will allow us to execute our strategic initiatives and capitalize on growth opportunities as they emerge.”