Cerner seeks to tap $35 million more of credit facility

By Ted A. Knutson

Washington, Jan. 7 - Cerner Corp. said it is seeking to draw down $35 million of its $90 million unsecured revolving credit facility with U.S. Bank NA. The money will replenish cash reserves depleted by the company's $100 million purchase of VitalWorks Inc.

The company expects to receive the funds by Jan. 10.

The draw down would leave $35 million left in the facility.

Interest is at Libor plus 200 basis points. The interest rate may be reduced by up to 115 basis points if certain net worth ratios are maintained.

The Kansas City, Mo.-based computer services company made the announcement in an 8-K filing with the Securities and Exchange Commission.

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