Advertisement
News
Advertisement

Alere Inc. Announces $2.1 Billion Credit Facilities

Fri, 07/01/2011 - 9:36am
Bio-Medicine.Org

WALTHAM, Mass., July 1, 2011 /PRNewswire/ -- Alere Inc. (NYSE: ALR) ("Alere") announced today that it has closed senior secured credit facilities totaling $2.1 billion.  Jefferies Finance LLC, GE Capital Markets, Inc., Credit Suisse and Goldman Sachs Bank USA acted as joint lead arrangers for the credit facilities, and GE Capital, Healthcare Financial Services serves as administrative agent for the lenders under the credit facilities.

The credit facilities consist of term loan facilities totaling $1.85 billion and a $250 million revolving credit facility.  The term loan facilities consist of a $925 million "A" term loan facility, of which $625 million was drawn at closing and $300 is available to be drawn on a delayed basis (subject to the terms of the credit agreement for the credit facilities), and a $925 million "B" term loan facility, all of which was drawn at closing.  No amount was drawn under the revolving credit facility at closing.

The "A" term loans and Alere's borrowings pursuant to the revolving line of credit bear interest at a rate per annum of, at Alere's option, either (i) the Base Rate, as defined in the credit agreement, plus an applicable margin, which varies between 1.75% and 2.50% depending on Alere's consolidated secured leverage ratio, or (ii) the Eurodollar Rate, as defined in the credit agreement, plus an applicable margin, which varies between 2.75% and 3.50% depending on Alere's consolidated secured leverage ratio.  The "B" term loans bear interest at a rate per annum of, at Alere's option, either (i) the Base Rate plus an applicable margin, which varies between 2.50% and 3.25% depending on Alere's consolidated secured leverage ratio, or (ii) the Eurodollar Rate plus an applicable margin, which varies between 3.50% and 4.25% depending on Alere's consolidated secured leverage ratio.  Interest on "B" term loans based on

'/>"/>

SOURCE

Topics

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading