Atrion closes $75 million revolving credit facility via Wells Fargo

By Marisa Wong

Morgantown, W.Va., March 3 – Atrion Corp. entered into a $75 million revolving credit agreement on Feb. 28 with Wells Fargo Bank, NA as lender, according to an 8-K filing with the Securities and Exchange Commission.

The secured credit facility includes an uncommitted feature allowing the company to request increases to the revolving credit commitment of up to $50 million total.

The new revolver will mature on Feb. 28, 2022.

Borrowings will bear interest at Libor plus an applicable margin ranging from 87.5 basis points to 175 bps.

There is also a commitment fee ranging from 5 bps to 20 bps.

The credit agreement includes a maximum consolidated total leverage ratio, a maximum consolidated senior secured leverage ratio, a minimum consolidated fixed-charge coverage ratio and a minimum consolidated net income.

The credit agreement replaces the company’s loan agreement dated Nov. 12, 1999 with SouthTrust Bank, NA, which was terminated upon closing of the new facility.

Based in Allen, Texas, Atrion manufactures medical devices, surgical products and specialty medical components.

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