Heritage-Crystal Clean entered into a new credit agreement with Bank of America as administrative agent. The agreement provides for borrowings of up to $95 million; $65 million is in the form of revolving facility and $30 million is available as a term loan.
The term loan will mature on February 21.
According to a related 8-K filing, Merrill Lynch, Pierce, Fenner & Smith were joint arranger and joint book runner. Wells Fargo Securities was joint arranger, joint book runner and co-syndication agent. BMO Harris Bank was joint arranger and co-syndication agent. Compass Bank was documentation agent.
Indiana-based Heritage-Crystal Clean is a provider of products and services pertaining to the environmental services market.