ABM Industries completes $650 million credit facility refinancing

New York, Dec. 1 - ABM Industries Inc. said it completed a new $650 million credit facility that will refinance its old bank agreement.

The new facility matures in November 2015 and carries interest at Libor plus 150 to 250 basis points.

There is a $50 million sub-limit for foreign currency borrowings and a $200 million accordion option.

The new facility has a modified permitted acquisition restriction that provides for additional flexibility.

Bank of America, NA is administrative agent.

ABM said the new facility gives it "enhanced flexibility to deploy capital in pursuit of its strategic objectives."

ABM is a New York-based provider of janitorial, facility, engineering, parking and security services.

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