- Upsizes facility to $535 million
- Lowers borrowing costs
- Increases operational and financial flexibility
- Extends maturity to 2024
Hawthorne, Calif., April 23, 2019 — OSI Systems, Inc. (NASDAQ: OSIS) (the “Company” or “OSI Systems”) today announced that it has entered into an amendment to its senior secured credit facility that increases the amount available to borrow to $535 million, lowers borrowing costs, increases the flexibility of certain restrictive provisions, including those related to permitted acquisitions and dispositions, and extends the maturity from December 2021 to April 2024.
Alan Edrick, Executive Vice President and Chief Financial Officer, stated, “We are pleased to successfully complete this amendment, which includes many additional favorable terms that enhance our financial flexibility to support continued growth while simultaneously reducing our borrowing costs. This transaction highlights not only the strength of our business, but also the continued strong support from our lenders.”
Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated (formerly known as Banc of America Securities LLC) and JPMorgan Chase Bank, N.A. served as Joint Lead Arrangers and Joint Bookrunners.
Wells Fargo Bank, National Association, will serve as the Administrative Agent on the facility.
About OSI Systems
OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense, and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end-product markets. For more information on OSI Systems or any of its subsidiary companies, visit OSI Systems. News Filter: OSIS-G
OSI Systems, Inc.
Vice President, Business Development