AKRON, Ohio Myers Industries has entered into a five-year, $200 million senior secured revolving credit facility with seven lending banks, replacing its previous senior credit facility that was scheduled to expire in November 2015. The senior credit facility was jointly arranged by J. P. Morgan Securities LLC and U.S. Bank National Association. JPMorgan Chase Bank, National Association, served as administrative agent.
“This credit facility provides the long-term financing at attractive pricing and flexibility through 2018," said Greggory Branning, senior vice president and CFO. "Together with our recent $100 million private placement of notes, the company has capacity to fund its strategic initiatives,”