Cantel Medical Corp. refinanced its borrowings by amending the existing loan agreement to include a $400 million revolving credit facility and a $200 million tranche A term loan.
A portion of the term loan was used to repay $164 million in loans under the existing facility.
The healthcare equipment company said the credit facility and term loan mature June 28, 2023.
Additionally, the credit agreement includes a $300 million accordion feature to increase Cantel's borrowing capacity.
Future borrowings will go toward Cantel's growth initiatives, CapEx and general corporate purposes.
Little Falls, N.J.-based Cantel provides infection prevention products and services.