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June 8, 2010

CBIZ expands credit facility

CBIZ expanded its unsecured credit facility from $214m to $275m last week.

CBIZ said the new credit facility will enable it to grow by acquisition and provide greater flexibility with the refinancing of $100m in subordinated convertible notes.

The new credit facility, which expires in June 2014, involves seven banks and is led by Bank of America. 

CBIZ is a New York Stock Exchange-listed US firm and member of Kreston International. The company has a market capitalisation of $411 million.

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