|Gevity HR Finds $50M Credit Facility
Gevity HR Inc. has refinanced its credit facility with Bank of America NA.
Under the new agreement, Gevity will have a revolving credit line of $50 million for five years. At the company's request, the amount of the facility can be expanded to a maximum of $75 million, subject to commitments from existing or new lenders.
Loan advances will carry an interest rate from 1.25 to 1.75 percent for Eurodollar rate loans and from 0 to .25 percent for prime rate loans plus one of the following indexes, Eurodollar rate or prime rate.
According to the terms of the agreement, the loan can be accelerated for a default in payment or misrepresentation of the company's finances, a release said.
Article At: Yahoo.com
- ACA Talent
Under the new agreement, Gevity will have a revolving credit line of $50 million for five years. At the company's request, the amount of the facility can be expanded to a maximum of $75 million, subject to commitments from existing or new lenders.
Loan advances will carry an interest rate from 1.25 to 1.75 percent for Eurodollar rate loans and from 0 to .25 percent for prime rate loans plus one of the following indexes, Eurodollar rate or prime rate.
According to the terms of the agreement, the loan can be accelerated for a default in payment or misrepresentation of the company's finances, a release said.
Article At: Yahoo.com
- ACA Talent
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