CareFusion ups revolver to $750 million, again delays SEC reports

By Toni Weeks

San Diego, Dec. 12 - CareFusion Corp. tapped into the accordion feature under its senior unsecured revolving credit facility on Dec. 10, increasing commitments to $750 million from $550 million, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The company also obtained a waiver that extends a previous waiver obtained by the company to delay the filing of its annual report on form 10-K for the fiscal year ended June 30 and the quarterly report on form 10-Q for the quarter ended Sept. 30.

The company will now have until April 30 to deliver to the lenders the financial statements included in 10-K and 10-Q filings, as well as those included in the quarterly report on form 10-Q for the quarter ending Dec. 31.

According to the 8-K, the company delayed the filing of the reports while conducting an ongoing analysis of its accounting policy for sales-type leases associated with its Pyxis medication and supply-dispensing products.

No amounts have been borrowed under the credit agreement, the filing noted.

JPMorgan Chase Bank, NA is the administrative agent and swingline lender for the revolver. Bank of America, NA is the syndication agent, and J.P. Morgan Securities LLC and Bank of America Merrill Lynch are the joint lead arrangers and joint bookrunners.

CareFusion is a San Diego-based provider of medical products and services to improve patient care.

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