OSI Systems increases facility to $525 million, extends it to 2021

By Tali Rackner

Norfolk, Va., Dec. 21 – OSI Systems, Inc. entered into an amendment to its senior secured credit facility with Wells Fargo Bank, NA as administrative agent, increasing the total availability to $525 million from $450 million and extending the maturity date to December 2021 from May 2019, according to a press release.

The amendment also lowers borrowing costs and increases the flexibility of certain restrictive covenants, including provisions related to permitted acquisitions, incurrence of additional debt and restricted payments.

Wells Fargo Securities, LLC and Bank of America Merrill Lynch served as joint lead arrangers, and were also joint bookrunners with JPMorgan Chase Bank, NA.

Based in Hawthorne, Calif., OSI is a designer and manufacturer of specialized electronic systems and components for applications in the homeland security, health-care, defense and aerospace industries.

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