ScanSource amends credit agreement to extend revolver maturity to 2022

By Marisa Wong

Morgantown, W.Va., April 5 – ScanSource, Inc. amended its amended and restated credit agreement on April 3 to extend the maturity of its $300 million multicurrency senior secured revolving credit facility to April 3, 2022, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

Under the amended facility, ScanSource may request to increase its borrowings up to a total of $500 million, subject to obtaining additional credit commitments from the lenders participating in the increase.

The amendment also sets the interest rate spreads at 100 basis points to 212.5 bps for Libor loans. Commitment fees range from 17.5 bps to 35 bps. The rates are based on leverage.

In addition, the amendment modifies some administrative and regulatory provisions and other financial covenants.

JPMorgan Chase Bank, NA, TD Bank, NA and Bank of America Merrill Lynch are joint lead arrangers and joint bookrunners with JPMorgan Chase Bank as administrative agent and TD Bank and Bank of America, NA as co-syndication agents.

ScanSource is a Greenville, S.C.-based distributor of specialty technology products.

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