Daily News: July 10, 2014

BofA, Wells Fargo Lead Integra Facility Upsize

Integra LifeSciences Holdings announced that it has established new terms under its credit facility, including an increase in the size of the facility and an extended maturity date, with its bank group led by Bank of America and Wells Fargo Bank.

We are extremely pleased to be able to expand our credit facility and extend the term out to 2019, said Glenn Coleman, Integra’s chief financial officer. The added financial flexibility will continue to support our long term growth objectives.

The new credit facility, which amended and replaced the prior one, includes the following terms:

  • An increase in the credit facility from $600 million to $900 million, consisting of a $750 million revolver and a term loan of $150 million
  • No change in pricing terms or commitment fees to the existing facility
  • An option to increase the aggregate size of the facility by $200 million with additional commitments
  • ,

  • An extension of the current credit facility’s maturity date to July 2, 2019
  • Integra plans to use the new credit facility to refinance the company’s borrowings under its existing facility, and for future acquisitions and general corporate purposes.

    Plainsboro, NJ-based Integra LifeSciences offers innovative solutions in orthopedic extremity surgery, neurosurgery, spine surgery, and reconstructive and general surgery.