Cantel Medical to pay down facility debt via proceeds of convertibles

By Rebecca Melvin

New York, May 12 – Cantel Medical Corp. plans to pay down credit facility debt with proceeds of a new $150 million five-year convertible note, according to a company release on Tuesday.

The debt repayment is required under the second amendment to its credit agreement entered into on Monday.

The company said it plans to apply at least 50% of the amount of the proceeds exceeding $100 million to the repayment of debt.

Cantel Medical is a Little Falls, N.J.-based medical equipment company.

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