CHARLOTTE, N.C., Sept. 4, 2012 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher Hygiene") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitation products and services, announced today that it has amended and restated its senior credit facility with Wells Fargo Bank, National Association as administrative agent. Under the amended facility, Swisher Hygiene may borrow a maximum of $50 million, provided such borrowings do not exceed amounts necessary for Swisher Hygiene to meet certain borrowing base requirements and financial covenants. Generally, the borrowing base equals (i) the sum of (a) a percentage of certain accounts of Swisher Hygiene plus (b) a percentage of certain inventory of Swisher Hygiene minus (ii) reserves determined by Wells Fargo Bank. The interest rates and maturity date under the amended facility were not modified from the prior Wells Fargo Bank credit facility. The amended facility requires that Swisher Hygiene maintain Unencumbered Liquidity, as defined in the amended facility, of at least $15 million.
Swisher Hygiene Amends Credit Facility With Wells Fargo Bank, National Association
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