Bio-Rad Laboratories (BIO) has released an update.
Bio-Rad Laboratories has secured a new Revolving Credit Agreement with Wells Fargo, allowing for up to $200 million in borrowings, including $25 million for letters of credit. This agreement, effective February 13, 2024, replaces an earlier credit arrangement and includes provisions for various currencies, with the option to extend the maturity date from its initial 2029 deadline. The company must adhere to specific financial covenants, including maintaining a consolidated leverage ratio, and can utilize the funds for acquisitions, working capital, and general corporate needs. Interest rates for borrowings vary by currency type and the company’s financial metrics.
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