Clean Harbors gets $120 million revolver led by Bank of America

By Sara Rosenberg

New York, Aug. 3 - Clean Harbors Inc. closed on a new $120 million four-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Bank of America acted as the lead arranger, bookrunner and administrative agent on the deal that was completed on July 31.

Pricing on the facility can range from Libor plus 325 basis points to 375 bps based on the fixed-charge coverage ratio.

The unused fee can range from 50 bps to 75 bps.

Proceeds from the revolver were used to refinance the company's previous $70 million revolver and $50 million synthetic letter-of-credit facility.

In addition, the company announced on Monday that it repaid its $30 million term loan due in 2010. The repayment was made on July 24.

Clean Harbors is a Norwell, Mass.-based provider of environmental and hazardous waste management services.

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