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Steris enters $1B credit agreement

Steris plc, along with its various units, entered a $1 billion revolving credit agreement.

The revolving credit facility, which may be increased by up to $500 million, will mature on March 23, 2023.

The U.K.-based provider of healthcare products and services will use borrowings under the credit agreement for general corporate purposes, working capital needs and to refinance an existing credit facility.

Additionally, borrowings under the credit agreement will bear interest, at Steris' option, at the base rate or at the Eurocurrency rate.

JPMorgan Chase Bank NA acted as administrative agent for the lenders in the credit agreement.