Wright Medical Group gets $350 million amended and restated facility

By Sara Rosenberg

New York, Feb. 10 - Wright Medical Group Inc. closed on a $350 million amended and restated senior credit facility due Feb. 10, 2016, according to a news release.

The facility consists of a $200 million revolver and a $150 million delayed-draw term loan.

The interest rate under the new facility will be the sum of a Base rate or Eurodollar rate plus an applicable margin that ranges from 0 basis points to 275 bps depending on the type of loan and the company's consolidated leverage ratio.

There is a $100 million accordion feature.

Proceeds will be used to help fund the purchase of $200 million of 2.625% convertible senior notes due 2014.

The tender offer for the notes expires on March 11.

Wright Medical is an Arlington, Tenn.-based orthopedic medical device company and provider of surgical services for the foot and ankle market.

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