Knoll gets $500 million revolver

By Sara Rosenberg

New York, June 29 - Knoll Inc. closed on a new $500 million six-year revolving credit facility on Friday, according to an 8-K filed with the Securities and Exchange Commission.

Bank of America acted as lead arranger and bookrunner.

Initial pricing on the revolver is Libor plus 100 basis points.

There is a $200 million accordion feature.

Proceeds were used to refinance the company's existing credit facility.

Borrowings are available for general corporate purposes, including strategic acquisitions, stock buybacks and cash dividends.

Knoll is an East Greenville, Pa., designer and manufacturer of branded office furniture products and textiles.

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