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Article: SYBRON INTERNATIONAL EXPECTING INTEREST RATE REDUCTION AND ANNOUNCES PLANS TO ACQUIRE E.T.M. CORPORATION AND ALLESEE ORTHODONTIC APPLIANCES, INC.
- Article from:
- PR Newswire
- Article date:
- June 15, 1994
CopyrightCOPYRIGHT 1994 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MILWAUKEE, June 15 /PRNewswire/ -- Sybron International Corporation (NYSE: SYB) announced that it is negotiating an amendment to its existing credit agreement which, if consummated, will result in a reduction in its bank debt interest rate of 75 basis points.
Chemical Bank and Sybron's other lenders are working on an amendment which would reduce the interest rate at which the Company borrows under its term loan facilities and its revolving credit facility. Once the amendment is effective, the interest rate, which is currently the London interbank offered rate ("LIBOR") plus 1-1/2 percent, will be reduced by 75 basis points to LIBOR plus 3/4 percent. The amendment will ...
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