CBIZ loan amendment revises pricing grid range to Libor plus 87.5 bps to 200 bps

By Sara Rosenberg

New York, Nov. 21 - CBIZ Inc.'s amendment to its $100 million unsecured credit facility reduced pricing so that the spread can now range from Libor plus 87.5 basis points to 200 bps, depending on leverage, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

In addition, the commitment fee was revised to a range of 17.5 bps to 40 bps, also depending on leverage.

The amendment also extended the maturity by an additional year and nine months to Nov. 16, 2012.

Bank of America is the lead bank on the deal.

The amendment was effective as of Nov. 16.

CBIZ is a Cleveland-based provider of professional business services that help clients better manage their finances, employees and technology.

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