Mesa Labs amends credit facility, adds $75M term loan; repurchases $75M of 2025 convertible notes at discount

MESA LABORATORIES INC /CO/

Amended credit agreement: $75M term loan + $125M revolver, matures April 2029, interest at SOFR + 1.5%-3.5%.
Repurchased $75M aggregate principal of 1.375% convertible notes due 2025 for $71.25M cash; closing expected April 11, 2024.
After repurchase, $97.5M of 2025 notes remain outstanding; total credit facility debt $125.5M ($75M term loan + $50.5M revolver).
CFO aims to reduce total net leverage ratio to below 3.0x over next 18 months.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MESA LABORATORIES INC /CO/ amended Credit Agreement with syndicate of banks led by JPMorgan Chase Bank, N.A., as administrative agent (effective 2024-04-05).

Action: amendment
Agreement: credit facility
Counterparty: syndicate of banks led by JPMorgan Chase Bank, N.A., as administrative agent
Effective: 2024-04-05

Exact text from the filing

On April 5, 2024, Mesa Laboratories, Inc. (the “Company” “we” “us” or “our”) amended and restated its senior secured credit agreement (the “Credit Agreement”) with a syndicate of banks led by JPMorgan Chase Bank, N.A., as administrative agent.

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Source: SEC EDGAR

accession 0001437749-24-011307

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