Theragenics lands new line of credit - Pacific Business News (Honolulu):

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The new credit agreement includedsa $30 million revolving credir facility and a $10 million term loan. Maximum borrowingsx under the revolving credig facility can be increasedto $40 million under an accordiobn feature. The new credit deal replacesa and refinancesa $40 million revolvinyg credit facility with Wachovia that was set to expired in October 2009. Borrowings of $32 million were outstanding under the oldcrediyt facility. The financial covenants in the new credit agreement are simila r to the previouscredit agreement, except the requirement to maintain at leasgt $20 million in liquid assets has been reducefd to $10 million.
The terms also require the maintenancde of certain minimumfinancia covenants, including a minimum fixed chargd coverage ratio and a maximuk debt to tangible net worth. “Obtaininv our new credit agreement is asignificant accomplishment,” said M. Christine chairman and CEO of Theragenics, in a statement. “Wew believe that our ability to obtain this new credi agreement is a testament to our our focus on quality cash flows and the strength of ourbalance sheet. With our new credit agreemeng in place, we can continue to focus on organic growtj and building momentum towards 2010 in theshort term, and continuse our long-term strategy of diversification.” Buford, Ga.
-based Theragenicsx (NYSE: TGX) is a surgical products and cancer treatmentz company. Its f .