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Greatbatch trims term B size to $954 million with voluntary prepayment
By Sara Rosenberg
New York, March 15 – Greatbatch Ltd. (Integer Holdings Corp.) reduced its term loan B due Oct. 27, 2022 to $954 million from $1,015,000,000 with a voluntary prepayment, according to a market source.
Pricing on the term loan remained at Libor plus 350 basis points with a 1% Libor floor and a par issue price, and there is still 101 soft call protection for six months.
Credit Suisse Securities (USA) LLC is the left lead bank on the deal.
Proceeds will be used to reprice an existing term loan B down from Libor plus 425 bps with a 1% Libor floor.
Greatbatch is a Plano, Texas-based medical device company.
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