Symmetry Medical gets $200 million revolver via JPMorgan, Wells Fargo

By Sara Rosenberg

New York, Nov. 3 - Symmetry Medical Inc. closed on a new $200 million five-year senior secured revolving credit facility on Wednesday, according to a news release.

JPMorgan and Wells Fargo acted as the joint lead arrangers and bookrunners on the deal, with JPMorgan the administrative agent.

Pricing on the revolver can range from Libor plus 175 basis points to 275 bps, based on leverage.

There is a $100 million accordion feature.

Initial borrowings of approximately $89 million under the revolver were used to repay existing debt, including bank loans due in June 2011. The balance of the facility is available for general corporate and working capital requirements, international expansion and permitted acquisitions.

Symmetry Medical is a Warsaw, Ind.-based provider of products to the orthopedic device industry and other medical markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.