Hologic revolver, term loan A repricing talked at Libor plus 200 bps

By Sara Rosenberg

New York, March 8 - Hologic Inc. is talking the repricing of its $300 million revolver due August 2017 and $979.7 million term loan A due August 2017 at Libor plus 200 basis points with no Libor floor, according to a market source.

By comparison, the revolver and term loan A are currently priced at Libor plus 300 bps with no floor.

Goldman Sachs & Co. is leading the deal that launched on Tuesday.

In addition, the company is looking to amend its credit facility to allow for the repurchase of 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.

Consents are due on March 15, the source added.

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

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

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