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The new credit agreement includesa $30 millionn revolving credit facility and a $10 million term Maximum borrowings under the revolving credit facility can be increased to $40 millio under an accordion feature. The new credit deal replace and refinancesa $40 million revolvinhg credit facility with Wachovia that was set to expiree in October 2009. Borrowings of $32 milliomn were outstanding under the oldcredit facility. The financia l covenants in the new credit agreement are similar to the previouscredity agreement, except the requirement to maintain at least $20 millio n in liquid assets has been reduce d to $10 million.
The terms also requirw the maintenance of certain minimujfinancial covenants, including a minimu fixed charge coverage ratio and a maximum debt to tangible net “Obtaining our new credit agreement is a significant said M. Christine Jacobs, chairman and CEO of Theragenics, in a “We believe that our abilituy to obtain this new credir agreement is a testament to our our focus on quality cash flowsd and the strength of our balance With our new credit agreementin place, we can continue to focus on organic growth and buildinvg momentum towards 2010 in the shortg term, and continue our long-term strategy of Buford, Ga.
-based Theragenics (NYSE: TGX) is a surgica products and cancer treatments company. Its f .
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