Cbiz Amends $275m Unsecured Credit Facility
CBIZ, Inc. (NYSE: CBZ) today announced that it has amended its $275 million unsecured credit facility effective August 30, 2012.
The amendment modifies the existing leverage requirements so as to provide additional flexibility to support the Company’s strategic acquisition program.
Ware Grove, CBIZ Senior Vice President and Chief Financial Officer, stated, “This is an important step in
facilitating our growth plan, and we are pleased to have such strong support from our bank group. CBIZ’s
cash flow from operations remains strong and the amended credit facility will continue to provide us even
greater ability to grow through strategic acquisitions.”
CBIZ, Inc. provides professional business services that help clients better manage their finances and
employees. CBIZ provides its clients with financial services including accounting, tax and consulting,
internal audit, merger and acquisition advisory and valuation services.
Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. CBIZ also provides outsourced technology staffing and support services, real estate consulting services, healthcare consulting, and medical practice management.
As one of the largest benefits specialists and one of the largest accounting, valuation, and medical practice management companies in the United States, the Company’s services are provided
through more than 130 Company offices in 37 states.