Integra Lifesciences Closes $450M Offering & Expands Credit Facility.

By Ahmed Jamerson • Tuesday, October 20 01:44 • Permanent Link

Integra Lifesciences closed a $450 million private offering of 9.500% senior secured notes due 2033 and simultaneously expanded and amended its credit facility to about $1.65 billion.

The new borrowing structure includes: a $600 million senior secured revolving credit facility with a five-year maturity, a $600 million senior secured term loan A facility with a five-year maturity, and * a $450 million senior secured term loan B facility with a seven-year maturity.

The company said it used the note proceeds, together with borrowings under the credit facility, to refinance its prior credit facility and cover related fees and expenses. The notes and guarantees are secured and guaranteed by the company’s domestic subsidiaries that already guarantee the credit facility. As a result of these announcements, the company's shares have moved -2.37% on the market, and are now trading at a price of $13.21. For the full picture, make sure to review INTEGRA LIFESCIENCES HOLDINGS CORP's 8-K report.

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