Integra LifeSciences Holdings increased its credit facility with its bank group led by Bank of America.

The expanded and extended credit facility includes the following terms:

  • An increase in the credit facility from $1.1 billion to $1.5 billion, consisting of a $1 billion revolving line of credit and a term loan of $500 million
  • An option to increase the aggregate size of the facility by at least $250 million with additional commitments
  • No change in pricing terms or commitment fees to the existing facility
  • Maturity of the credit facility is extended to December 7, 2021

“We are pleased to announce this expansion and two-year extension of our credit facility under favorable credit terms,” said Glenn Coleman, Integra’s CFO. “This new agreement strengthens our balance sheet and provides increased financial flexibility to pursue our long-term growth strategy.”

Integra LifeSciences plans to use a portion of the term loan to repay the outstanding indebtedness under the existing credit facility and cover fees and expenses incurred in connection with the new credit facility. Borrowings from the new revolving facility will be used to refinance the convertible notes that are due December 15, 2016 and for general corporate purposes.

Integra LifeSciences is dedicated to limiting uncertainty for caregivers so they can concentrate on providing the best patient care.