Masimo inks $150m credit facility deal

Masimo (NSDQ:MASI) has inked a $150 million credit facility with JP Morgan Chase and Bank of the West, according to a recently published SEC filing.

The Irvine, Calif.-based company’s new facility comes with an option to increase the aggregate borrowing capacity up to $550 million, and also provides for a sublimit of up to $25 million for issuing letters of credit and a $75 million sublimit for borrowings in specified foreign currencies, according to the filing.

Funds from the newly fined facility will be used to support general corporate, capital investment and working capital needs, Masimo said in the SEC filing.

In October, Masimo released third quarter earnings that topped expectations on Wall Street and lifted its guidance for the full fiscal year.

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