Greatbatch borrows $45 million under existing revolver

By Tali David

Minneapolis, Dec. 15 - Greatbatch Inc. borrowed $45 million under its existing revolving line of credit in connection with the acquisition of Micro Power Electronics, Inc., according to an 8-K filing with the Securities and Exchange Commission.

The borrowing will bear interest based upon the current Prime rate or the Libor rate plus a margin that varies with Greatbatch's total leverage ratio.

If interest is paid based upon the Prime rate, the applicable margin is between zero and 100 basis points. If interest is paid based upon Libor, the applicable margin is between 150 bps and 300 bps.

Greatbatch is a provider of technologies to industries through its brands Greatbatch Medical, Electrochem and QiG Group.

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