Avon’s Magellan Health Services Inc. signed a three-year, $230 million revolving credit line with a bank syndicate that includes Citibank, Bank of America, Wells Fargo Bank and U.S. Bank, a regulatory filing shows.
The credit facility that expires on Dec. 9, 2014 includes a sublimit of up to $70 million for the issuance of letters of credit for Magellan’s account, according to its 8-K filing with the Securities and Exchange Commission.
The company provides services to insurance companies and various governmental agencies.
