Audatex obtains $85 million incremental revolver at Libor plus 300 bps

By Sara Rosenberg

New York, July 25 - Audatex North America Inc. closed on an $85 million incremental revolving credit facility due May 16, 2017, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Pricing on the incremental revolver is Libor plus 300 basis points with a 37.5 bps unused fee.

Lenders were paid a 20 bps upfront fee.

The joinder agreement for the incremental loan was entered into with J.P. Morgan Chase Bank, N.A., Credit Suisse AG, Goldman Sachs and Fifth Third Bank on July 19. Goldman Sachs Credit Partners L.P. is the administrative agent on the deal.

Audatex is a San Diego-based provider of software and services to the U.S. automobile insurance claims processing and collision repair industries.

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