Greatbatch amends revolver, pushing out maturity, increasing size

By Sara Rosenberg

New York, June 29 - Greatbatch Inc. amended its revolving credit facility, extending the maturity to June 24, 2016 from May 2012 and lifting the size to $400 million from $235 million, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Also, the amendment allows for the repayment of the company's $198 million of 2.25% convertible subordinated debentures due June 2013 as well as other corporate investments.

Pricing on the revolver can range from Libor plus 150 basis points to 300 bps and the commitment fee can range from 17.5 bps to 25 bps, based on leverage.

The amendment was completed on June 24.

Manufacturers and Traders Trust Co. is the administrative agent on the deal.

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

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