Boston, MA 10/14/2014 (wallstreetpr) – According to reports, 3D Systems Corporation (NYSE:DDD) recently announced that it had executed a revolving credit facility worth $150 million with its lenders. The credit agreement consists of a loan facility, which will offer $150 million as the initial principal amount in the form of advances. DDD is known for offering second to none 3D printing services across the world.
According to Avi Reichental, CEO of 3D Systems Corporation (NYSE:DDD), the revised capital structure of DDD will allow it to focus more on the long-term objectives in order to attain organizational goals. Although initial principal amount has been finalized at $150 million, but if required it can be increased by additional $75 million, provided all the terms and conditions of the agreement are fulfilled. The current credit facility will not only strengthen the capital structure of the DDD, but also provide additional flexibility for executing growth strategy effectively.
There are various financial organizations that have been given critical positions for the successful execution of this credit facility. PNC Bank, National Association has been given responsibility of working as the administrative agent, whereas PNC Capital Markets LLC has been given responsibilities of Sole Book running and sole lead arrangement. 3D Systems Corporation (NYSE:DDD) has appointed HSBC Bank USA, N.A. as the Syndication Agent while Capital Bank, N.A. as the lender for this offering. The successful execution of credit agreement is subjected to fulfillment of certain conditions that are necessary for the agreement of this nature.
Those people who want to know more about this transaction can refer current report of 3D Systems Corporation (NYSE:DDD) in form8-K, which will be filed with SEC (security exchange board) very soon. Market experts think that the current credit financing facility will help DDD in strengthening its market position as well as brand image. According to them, it is expected to be beneficial for the company in the future.