OSI Systems announced that it has entered into an amendment to its senior secured credit facility that increases the amount available from $450 million to $525 million. The amendment also lowers borrowing costs, extends the maturity from May 2019 to December 2021, and increases the flexibility of certain restrictive covenants, including provisions related to permitted acquisitions, incurrence of additional indebtedness, and restricted payments. 

Alan Edrick, Executive Vice President and Chief Financial Officer, stated, “We are pleased to complete this amendment to our credit facility, which includes a significant number of improved terms that provide us with a lower cost of capital and enhanced liquidity and flexibility to support our continued growth. The increased facility highlights the strong support from our lenders.”

Wells Fargo Securities, LLC (“WFS”) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (formerly known as Banc of America Securities LLC) (“MLPFS”) served as Joint Lead Arrangers, and WFS, MLPFS, and JPMorgan Chase Bank, N.A. served as Joint Bookrunners.

Wells Fargo Bank, National Association, will serve as the Administrative Agent on the facility.

OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense, and aerospace industries. OSI combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end-product markets. For more information on OSI Systems, Inc. or any of its subsidiary companies, visit OSI Systems.