Masimo inks $125 million multi-currency credit facility via JPMorgan

By Toni Weeks

San Luis Obispo, Calif., April 29 - Masimo Corp. entered into an agreement for a $125 million multi-currency credit facility with JPMorgan Chase Bank, NA on April 23, according to an 8-K filing with the Securities and Exchange Commission.

Of the total amount of available borrowings, up to $25 million may be used for the issuance of letters of credit. Swingline loans may also be requested from time to time, according to the filing.

The maturity date for the facility is April 23, 2019.

Interest will be Libor plus 112.5 basis points to 225 bps, with the exact margin based on leverage. There is an unused fee of 22.5 bps to 30 bps, also based on leverage.

Proceeds will be used for general corporate, capital investment and working capital needs.

The company's obligations under the facility are secured by substantially all of its personal property, including equity of domestic subsidiaries and first-tier foreign subsidiaries.

Based in Irvine, Calif., Masimo is a global medical technology company that develops and manufactures noninvasive patient-monitoring technologies.

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