Primo Water, a provider of water dispensers, environmentally responsible bulk bottled water and premier sparkling beverage appliances, announced the successful completion of its new revolving credit facility on April 30, 2012 with TD Bank and a term loan led by Comvest Capital.

Primo Water Corporation, a provider of water dispensers, environmentally responsible bulk bottled water and premier sparkling beverage appliances, announced the successful completion of its new revolving credit facility on April 30, 2012 with TD Bank and a term loan led by Comvest Capital.

The new revolving credit facility provides for up to $20 million in borrowings through October 2015, subject to borrowing base requirements related to accounts receivable and inventory.

The $15.2 million term loan was provided by Comvest Capital ($14.0 million) and certain stockholders, directors and officers of the Company (including Billy D. Prim, the company’s chief executive officer, and two board members) (a total of $1.2 million). The term loan matures in April 2016. The company issued warrants to purchase a total of 1,731,428 shares of common stock at an exercise price of $2.30 per share in connection with the term loan.

The company used the proceeds of the term loan to repay its existing senior credit facility and will use additional availability under the revolving credit facility for general working capital purposes.