Daily News: September 23, 2016

JPMorgan Agents $2.16B Hill-Rom Holdings Facility


Hill-Rom Holdings entered into an amended credit agreement with JPMorgan Chase as administrative agent for a new $1.4625 billion term loan A facility and a $700 million senior secured revolving credit facility.

The facilities were used to fund, in part, the payoff of existing credit facilities.

JPMorgan Chase served as administrative agent and collateral agent. Sumitomo Mitsui, Wells Fargo, Fifth Third and The Bank of Nova Scotia were co-syndication agents. Goldman Sachs, TD Bank, DNB Bank and Capital One were co-documentation agents. JPMorgan Chase, Bank of America, PNC Bank, Citizens Bank and The Bank of Tokyo-Mitsubishi UFJ served as joint bookrunners and joint lead arrangers.

Borrowings under the term loan bear interest at a rate equal to either 0.75% or, after the delivery of the financial statements for the first full fiscal quarter after the closing of the agreement, 0.50% to 1.00% subject to a pricing grid.

Borrowings under the revolver bear interest at a rate equal to either a margin set in the agreement plus ABR or a margin set in the agreement plus the adjusted LIBOR.