Stericycle completed a credit agreement comprised of a $1.2 billion revolving credit facility and a $950 million term loan.
According to a related 8-K filing, Bank of America served as administrative agent, swingline lender and letter of credit issuer for the facility. JPMorgan Chase and HSBC Securities were syndication agents. The Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui and Wells Fargo were co-documentation agents. Merrill Lynch, HSBC Securities (USA) and JPMorgan Chase were joint lead arrangers and joint bookrunners.
The term loan facility and the revolving credit facility will mature on November 17, 2022.
The proceeds of the term loan facility and loans under the revolving credit facility were used on the closing date under the credit agreement to refinance the loans and other credit extensions made under the existing term loan credit agreement and the existing revolver.
At the company’s option, loans under the revolving credit facility and the term loan facility may be base rate loans or eurocurrency rate loans and bear interest at a base rate or eurocurrency rate, respectively, plus the applicable rate.