Angelica gets $150 million amended and restated credit facility

By Sara Rosenberg

New York, Feb. 2 - Angelica Corp. closed on a $150 million amended and restated five-year credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

LaSalle Bank is administrative agent, Wells Fargo Bank is syndication agent and UMB Bank is documentation agent.

The facility, which closed on Jan. 27, consists of a $100 million revolver that can be expanded to $125 million under certain conditions and a $50 million term loan. Both tranches carry an initial interest rate of Libor plus 150 basis points.

Financial covenants include a minimum fixed charge coverage ratio of 1.20:1.00 and a maximum ratio of funded debt to EBITDA of 2.75:1.00 through Jan. 31, 2006 and 2.50:1.00 thereafter, the filing said.

Angelica is a Chesterfield, Mo., provider of linen management services, primarily to healthcare providers, and a seller of medical apparel.

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