Mentor obtains new $200 million credit facility

By Sara Rosenberg

New York, June 1 - Mentor Corp. closed on a new $200 million three-year credit facility that contains a $50 million accordion feature, according to a company news release.

Bank of the West and Union Bank of California were the lead banks on the deal.

"Mentor's longstanding relationship with Bank of the West and Union Bank of California allowed us to expand our financial flexibility," said Joshua H. Levine, president and chief executive officer, in the release.

"We remain committed to executing our strategy of pursuing licensing and acquisition opportunities that complement our existing businesses and extend our position in the markets we serve."

Mentor is a Santa Barbara, Calif.-based supplier of medical products.

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