Business
Varex Announces Closing of Revolving Credit Facility of $155 Million
SALT LAKE CITY--(BUSINESS WIRE)-- Varex Imaging Corporation (Nasdaq: VREX) today announced it has entered into a senior secured revolving credit agreement
About this update from Varex Imaging Corporation
[{"type":"text","content":" SALT LAKE CITY--(BUSINESS WIRE)--\nVarex Imaging Corporation (Nasdaq: VREX) today announced it has entered into a senior secured revolving credit agreement (the “RLOC Facility”) for an initial aggregate principal amount of up to $155 million. Zions Bancorporation, N.A. (“Zions”) acted as lead arranger and bookrunner for the new RLOC Facility. Simultaneously, Varex terminated its existing senior secured asset-based revolving credit agreement.\n\n\n“We are pleased to have successfully closed the revolving credit facility,” said Sam Maheshwari, Chief Financial Officer of Varex Imaging Corporation. “The additional liquidity provides funds to address working capital and other general corporate purposes, including potential repayment of debt,” added Maheshwari.\n\n\nAdditional information concerning the RLOC Facility is disclosed in Varex’s Form 8-K filed with the Securities and Exchange Commission today, March 27, 2024.\n\n\nAbout Varex\n\n\nVarex Imaging Corporation is a leading innovator, designer and manufacturer of X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are key components of X-ray imaging systems. With a 70+ year history of successful innovation, Varex’s products are used in medical imaging as well as in industrial and security imaging applications. Global OEM manufacturers incorporate the company’s X-ray sources, digital detectors, connecting devices and imaging software in their systems to detect, diagnose, protect and inspect. Headquartered in Salt Lake City, Utah, Varex employs approximately 2,300 people located in North America, Europe, and Asia. For more information visit vareximaging.com.\n\n\nAbout Zions Bancorporation\n\n\nZions Bancorporation, N.A. is one of the nation's premier financial services companies with 2023 net revenue of $3.1 billion and approximately $87 billion of total assets. Founded in 1873, Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending. In addition, Zions is included in the...