Published in Lab Business Week, January 12th, 2004
The new credit facility matures in 3 years and is composed of a $15 million revolver and a $12 million term loan, both at terms more favorable to the company than its existing credit facility. As previously announced, the company will record a noncash, pretax charge of $924,000 in the second quarter to write off unamortized deferred financing charges related to its existing credit facility. This charge reduced second-quarter earnings by approximately $0.03 per diluted share.
Consequently, Immucor is terminating its $25.5 million secured bank line of...
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