Greatbatch launches $873 million term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, Oct. 27 – Greatbatch Ltd. (Integer Holdings Corp.) was scheduled to hold a lender call at 10:30 a.m. ET on Friday to launch an $873 million term loan B (B2/B) due Oct. 27, 2022 that is talked at Libor plus 325 basis points with a 1% Libor floor and a par issue price, according to a market source.

The term loan is also talked with a step-down to Libor plus 300 bps upon achieving B2/B corporate family ratings, and has 101 soft call protection for six months, the source said.

Current corporate family ratings are B3/B.

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 350 bps with a 1% Libor floor.

Commitments are due on Wednesday, the source added.

Greatbatch is a Plano, Texas-based medical device company.

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