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Zep Agrees to $320 Million Credit Line

11:02 AM MDT | July 20, 2010 | Vincent Valk

Zep (Atlanta, GA), a maker of specialty cleaning and maintenance chemicals, has entered into a $320 million credit line with a consortium of banks led by J.P. Morgan Chase. The line consists of a revolving loan with a $245 million limit, and a $75 million term loan to Acuity Specialty Products, a Zep subsidiary. The company may increase the revolving loan's limit by $30 million upon request, Zep says. The entire credit line matures in 2015. The new credit line replaces a previous $140 million agreement that was scheduled to mature in October 2012. "Given...

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