OSI extends revolver, cuts pricing, increases letter-of-credit limit

By Angela McDaniels

Tacoma, Wash., Nov. 10 - OSI Systems, Inc. extended its $250 million revolving credit facility to Nov. 10, 2016 from Oct. 15, 2015 and lowered the interest rate on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The amendment lowered the margin over Libor to a range of 150 basis points to 200 bps. Previously, the margin ranged from 200 bps to 250 bps.

The commitment fee is 25 bps to 35 bps, compared with 37.5 bps to 50 bps previously.

The amendment also increased the committed amount available under the letter-of-credit subfacility to $175 million from $155 million.

Wells Fargo Bank, NA is the administrative agent.

OSI Systems is a Hawthorne, Calif.-based designer and manufacturer of electronic systems and components.

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