Agilysys gets $200 million unsecured credit facility

By Sara Rosenberg

New York, Oct. 21 - Agilysys Inc. closed on a new $200 million five-year unsecured credit facility, according to an 8-K filed with the Securities and Exchange Commission Friday.

LaSalle Bank was lead arranger, bookrunner and administrative agent on the deal.

Borrowings under the facility will carry an initial interest rate of Libor plus 102.5 basis points.

Covenants include a leverage ratio of less than 3.00 to 1.00 and a fixed charge coverage ratio of no more than 1.2 to 1.00.

The facility, which closed Oct. 18, was used to refinance the company's previous $100 million unsecured facility and will provide for working capital requirements, capital expenditures and general corporate purposes.

Agilysys is a Mayfield Heights, Ohio-based company involved in the distribution and resale of enterprise computer systems solutions.

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