BancTec Secures New Credit Facility
02.28.2008 — Dallas, Texas
On February 7, 2008, BancTec, Inc. amended and restated its existing $40 million credit facility which was scheduled to terminate in May 2008. The amended and restated facility (the “Facility”) provides for a secured revolving line of credit up to $55 million, with a $10 million letter of credit sublimit and a $45 million incremental facility. The Facility has a term of 5 years and provides for borrowings on base rate or LIBOR rate terms. The Facility will be used to pay costs and expenses related to the Facility, for working capital and other general corporate purposes, and to finance permitted acquisitions. GE Capital Markets, Inc. was the sole lead arranger and bookrunner for the Facility. GE Corporate Lending is a lender, the l/c issuer, the swingline lender and the agent for the other lenders, including Wells Fargo Foothill, LLC, under the Facility. The Facility also includes customary voluntary and mandatory prepayment provisions, representations and warranties, affirmative and negative covenants, financial covenants and events of default, with acceleration of outstanding loan obligations under the Facility following the occurrence and during the continuance of such events of default.
About BancTec
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec’s offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.
Contact:
1.800.BancTec
inquiries@banctec.com
