WMS announced that it has entered into an amended, unsecured revolving credit facility through September 30, 2012 with a syndicate of five banks.
The revolving credit facility, which was scheduled to expire on December 31, 2009, was increased to $150m from $100m and includes an additional $50m facility expansion feature.
JPMorgan Chase Bank and Banc of America Securities LLC are co-lead banks for the syndicate that also includes KeyBank, Comerica and Wells Fargo Bank. As of the closing date of September 25, 2009, WMS had no outstanding borrowings under the revolving credit facility.
“The expansion and extension of WMS’ revolving credit facility reflects our focus on maintaining financial flexibility and a solid capital foundation,” said Scott D Schweinfurth, executive vice president, chief financial officer and treasurer of WMS. “This amended credit facility provides WMS with an excellent financial resource for additional liquidity and flexibility to pursue opportunities that enhance shareholder value.”
