Invacare to launch new credit facility Jan. 18

By Sara Rosenberg

New York, Jan. 11 - Invacare Corp. is scheduled to hold a bank meeting on Jan. 18 to launch a new credit facility, according to a market source.

Bank of America and National City are the lead banks on the deal.

No further details on the financing were available prior to press time.

In December, the company said that it received waivers of covenant violations under its existing credit facility that are dependant on the execution of a commitment letter for new financing. The company went on to say that this new financing would refinance its long-term debt and that if was not obtained by Feb. 15, it could have a material adverse effect on liquidity and/or financial position.

Invacare is an Elyria, Ohio, manufacturer and distributor of nonacute health care products.

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