LIONVILLE, Pa. (May 28)—West Pharmaceutical Services Inc. has completed the refinancing of a $125 million revolving credit facility with a consortium of banks, the company announced May 28.
Proceeds from the new facility will be used to refinance outstanding debt under the previous facility— which stood at $49.4 million as of March 31—and provide West with additional financial liquidity, the Lionville-based medical components manufacturer said.
The facility matures in January 2009. It replaces a combination of short and long-term revolving credit facilities, which in the absence of an extension of the short-term facility, would have matured in July 2004 and July 2005, respectively.