8-KItem 1.01 · Material AgreementItem 1.02 · Termination of AgreementItem 2.03 · Financial ObligationItem 9.01 · Financial Statements
West Pharmaceutical enters new $950 million credit agreement
Filed with the SEC on · Summarized by InvestorsBot
West Pharmaceutical Services entered a new five-year credit agreement with Bank of America and other lenders, including a $750 million unsecured revolving facility and a $200 million term loan funded on the effective date. The company may use the proceeds for working capital, capital expenditures, acquisitions, share repurchases, general corporate purposes and debt repayment; the agreement limits its net leverage ratio to 3.50-to-1, or 4.00-to-1 during qualifying material acquisition periods.