Premier Expands Revolving Credit Facility: 5 Things to Know

Premier, a Charlotte, N.C.-based group purchasing organization, and its subsidiaries have refinanced and expanded its revolving credit facility.

Here are five things to know about Premier's new revolving credit facility.

1. The new, five-year unsecured revolving facility provides up to $750 million of borrowing ability, with a maximum increase of an aggregate $250 million, subject to lender approval.

2. The five-year unsecured revolving facility matures on June 24, 2019, replacing the previous $100 million secured revolving credit facility that was scheduled to mature on Dec. 16, 2014.

3. Wells Fargo Securities, Merryl Lynch, Pierce and Fenner & Smith created a banking syndicate to provide the new facility.

4. Borrowers may choose to borrow in the form of Eurodollar Rate loans or Base Rate loans. Each have their respective interest formulations, the former interested based on the London Interbank Offer Rate plus 1.125 percent to 1.75 percent, and the latter interest based on the Base Rate plus 0.125 percent to 0.750 percent.

5. At time of termination, the prior facility had no outstanding borrowings.

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