Hologic launches revolver, term loan A repricing and amendment

By Sara Rosenberg

New York, March 5 - Hologic Inc. held a meeting with lenders on Tuesday to launch a repricing of its $300 million revolver due August 2017 and $979.7 million term loan A due August 2017 and an amendment to its credit facility, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Currently, the revolver and term loan A are priced at Libor plus 300 bps.

As for the amendment, it would allow the company to repurchase its convertible notes during the 18 months prior to their put dates, modify the asset sale covenant general basket to remove the transaction and annual caps on asset sales and permit unsecured debt to be assumed as part of a permitted acquisition.

Total secured leverage is 2.5 times, and net total leverage is 4.9 times.

Hologic is a Bedford, Mass.-based povider of diagnostics products, medical imaging systems and surgical products.

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