Ultrasystems Inc., an Irvine engineering and construction...

Ultrasystems Inc., an Irvine engineering and construction company, said Monday that it has finalized the syndication of its new $40-million secured revolving line of credit. The new credit line replaces a $20-million unsecured credit line. The Bank of America acted as agent for the syndication. Other participants include Security Pacific National Bank, First Interstate Bank of California, Crocker National Bank and First National Bank of Minneapolis.

Nelson Research & Development Co. of Irvine said that Sandoz Inc., the U.S. subsidiary of Sandoz Ltd. of Switzerland, has exercised its option to enter into a license agreement for an unspecified sum to market a Nelson-developed pain relief medication in the United States. Nelson said it expects to file an application with the U.S. Food and Drug Administration in 1986 for approval to market the medication.