Synagro Technologies increases revolver to $95 million

By Sara Rosenberg

New York, May 15 - Synagro Technologies Inc. increased its senior revolver to $95 million from $50 million. Bank of America is the lead bank on the loan.

G.E. Capital, Co Bank and Capital Farm Credit are part of the syndicate group and Credit Lyonnais, LaSalle Bank and Farm Credit Bank of Texas joined the syndicate in connection with this deal.

Proceeds will be used for general corporate purposes, including working capital, capital expenditures and acquisitions.

"The additional $45 million of revolver capacity further secures our industry leadership position by providing additional borrowing capacity to support our business strategy, including capitalizing on organic and external growth opportunities. We appreciate the confidence that our new and existing banks have placed in our business and our people," said Ross M. Patten, chairman and chief executive officer.

Synagro is a Houston national water and wastewater residuals management company.

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