CryoLife, a medical device and tissue processing company focused on cardiac and vascular surgery, completed its acquisition of JOTEC, a German-based, privately-held developer of aortic surgical grafts.

According to a related 8-K filing, Deutsche Bank AG New York Branch served as administrative and collateral agent of a $225 million secured term loan facility and a $30 million secured revolving credit facility to support the acquisition.

The proceeds of the term loan facility were used, along with cash on hand and shares of CryoLife’s common stock, to fund the acquisition of JOTEC and its subsidiaries, to pay certain fees and expenses related to the acquisition and the credit agreement and to pay off CryoLife’s existing credit facility. Loans under this facility will be repayable on a quarterly basis.

The revolving credit facility will be undrawn following completion of the acquisition and may be used for working capital, capital expenditures, permitted acquisitions and other general corporate purposes pursuant to the terms of the credit agreement.

At CryoLife’s option, the loans under the term loan facility bear interest at a floating annual rate equal to the base rate plus a margin of 3.00% or LIBOR plus a margin of 4.0%. The loans under the revolver bear interest at a floating annual rate of the base rate plus a margin of between 3.0% and 3.25% or LIBOR plus a margin of between 4.0% and 4.25%, depending on CryoLife’s consolidated leverage ratio.

Capital One served as syndication agent, along with Fifth Third Bank and ING Capital as co-documentation agents. Deutsche Bank Securities, Capital One and Fifth Third Bank were joint lead arrangers and joint bookrunners.