Bank of America led an amendment on the credit facility of Integra LifeSciences, a global medical technology company.
The overall size of the credit facility remains at $2.2 billion and consists of a $1.3 billion revolving line of credit and a $900 million term loan. The amendment decreases applicable interest rates and commitment fees and extends the maturity of the facility to May 3, 2023.
“We are pleased to announce the two-year extension of our credit facility with improved pricing,” said Glenn Coleman, chief financial officer, Integra LifeSciences. “With these new terms, we have strengthened our balance sheet and increased our flexibility to pursue our long-term revenue growth and profitability strategy. We appreciate the continued support and commitment from our lending group.”
Borrowings from the new revolver will be used to cover fees and expenses incurred in connection with the credit facility, along with general corporate purposes.
