CRH Medical secures new $125 million three-year revolving facility

By Sarah Lizee

Olympia, Wash., Oct. 23 – CRH Medical Corp. entered into a new $125 million three-year revolving credit facility, according to a press release.

The new facility includes a committed $125 million facility and access to an accordion feature that would increase the amount of credit available to CRH by $75 million.

The new revolver represents an increase from the company’s previous $100 million facility.

The lending syndicate for the new facility is led by JPMorgan Chase Bank, NA and also includes Bank of Nova Scotia, U.S. Bank and Wells Fargo.

The new facility reduces the interest rate by as much as 100 basis points, to Libor plus 125 bps to 175 bps, based upon CRH’s debt to EBITDA ratio.

Other improved terms include a maximum debt to EBITDA ratio of 3x and a minimum interest coverage ratio of 3x.

CRH is a commercial health-care products and services company based in Vancouver, B.C.

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