Stratasys terminates five-year $250 million revolver due 2018

By Wendy Van Sickle

Columbus, Ohio, Sept. 30 – Stratasys Ltd. and its subsidiary Stratasys International Ltd. terminated on Monday their credit agreement, dated Nov. 7, 2013 with Bank of America, NA as administrative agent, according to a 6-K filed with the Securities and Exchange Commission.

The five-year credit agreement provided for revolving borrowings up to $250 million with a $25 million sublimit for swingline loans and allowed Stratasys to request up to $75 million of additional commitments.

The company had no borrowings outstanding under the credit agreement Monday and said its decision to terminate the facility was based on a review of its current cash position.

Stratasys makes 3D printing equipment and materials. It is based in Rehovot, Israel, and Eden Prairie, Minn.

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