| Quidel secures new $120 million credit facility from four banks |
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| Wednesday, October 15, 2008 |
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According to the Associated Press, diagnostics maker Quidel Corp. has signed a new $120 million, five-year credit facility with four banks. Quidel will use the new credit vehicle, which includes an option for an added $75 million of borrowing, to fund acquisitions and for general expenses. The lending group includes Bank of America, U.S. Bank, JPMorgan and Union Bank of California. The new credit facility replaces and expands upon Quidel's previous unused $30 million credit agreement with Bank of America.
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The drum unloader system has been designed to hygienically handle
highly-viscous food products that need to be transferred from storage
barrels into mixing tanks during the manufacturing process.
