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Cantel Medical refinances loan agreement

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.