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Zebra Technologies Secures Revolving Credit Agreement
(Wireless News Via Acquire Media NewsEdge)
Zebra Technologies announced that it has entered into a five-year, $100
million revolving credit facility.
Zebra will be able to draw upon the credit facility for working capital
and general corporate purposes, including stock buybacks and
acquisitions. The revolving credit facility has a $100 million
accordion feature that allows the company to increase the facility up
to a total of $200 million subject to obtaining commitments for the
incremental capacity from existing or new lenders.
"We put the credit facility in place to provide financing flexibility,"
said Michael Smiley, Zebra's chief financial officer. "Zebra's ability
to secure credit on favorable terms in this uncertain financial market
environment is a testament to the strength of the company's balance
sheet, cash flows and growth prospects."
The lead arranger and book runner for the new credit facility is J.P.
Morgan Securities, with Northern Trust Co. as the syndication agent,
Bank of America as the documentation agent and JPMorgan Chase Bank as
the administration agent. Also included in the facility allocation are
Wells Fargo Bank and RBS Citizens.
Zebra Technologies helps companies identify, locate, and track assets,
transactions, and people with on-demand specialty digital printing and
automatic identification solutions.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))
Copyright ? 2008 Wireless News
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