Navigation Links
Alere Inc. Announces $2.1 Billion Credit Facilities
Date:7/1/2011

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 the Eurodollar Rate is subject to a 1.00% floor.

Alere used the proceeds of the credit facilities drawn at closing to repay in full and terminate its existing first lien and second lien credit facilities and to pay various fees and expenses associated with the transaction.  Alere may use the remaining credit facilities to finance permitted acquisitions, to fund permitted stock repurchases, to finance capital expenditures, for working capital and for other general corporate purposes, subject to the terms of the credit agreement.  

Foley Hoag LLP represented Alere in the transaction, and White & Case LLP represented the joint lead arrangers in the transaction.

About Alere Inc.

By developing new capabilities in near-patient diagnosis, monitoring and health management, Alere enables individuals to take charge of improving their health and quality of life at home.  Alere's global leading products and services, as well as its new product development efforts, focus on cardiology, women's health, infectious disease, oncology and toxicology.  Alere is headquartered in Waltham, Massachusetts.


'/>"/>
SOURCE Alere Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Alere Inc. Announces Completion of Consent Solicitations Related to its 9.0% Senior Subordinated Notes due 2016, 8.625% Senior Subordinated Notes due 2018 and 7.875% Senior Notes due 2016
2. Alere Inc. Announces Extension of Consent Solicitations Related to its 9.0% Senior Subordinated Notes Due 2016, 8.625% Senior Subordinated Notes Due 2018 and 7.875% Senior Notes Due 2016 and Increased Consent Fees
3. Alere Inc. Declares Dividend on its Series B Convertible Perpetual Preferred Stock
4. Alere to Attend the Deutsche Bank 36th Annual Health Care Conference on May 4, 2011
5. Alere Inc. Announces First Quarter 2011 Results
6. Alere Earns NCQA Health Information Products Certification for Health Information Line
7. Alere Previews Findings from Key Research Study on Medication Adherence at Integrated Benefits Institute Conference
8. Alere Inc. Announces Fourth Quarter 2010 Results
9. Alere to Attend the Lazard Capital Markets 7th Annual Healthcare Conference on November 17, 2010
10. Alere to Attend the Fifth Annual JMP Securities Healthcare Conference on September 28, 2010
11. Alere Inc. Announces Pricing of Senior Subordinated Notes Offering; Offering Size Increased to $400.0 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... , May 26, 2016 According ... "Medical Waste Management Market - U.S. Industry Analysis, Size, Share, ... management market in the U.S. was valued at US$ 5.89 ... CAGR of 3.4% from 2015 to 2023 to reach US$ ... analysis of current and emerging needle free drug delivery devices ...
(Date:5/26/2016)... , May 26, 2016 ... With Both Cost Savings and Overall Decreased ... (LSE: BTG), an international specialist healthcare company, has ... the 21st Annual Meeting of ISPOR (International Society ... of hepatocellular carcinoma (HCC) using yttrium-90 glass microspheres ...
(Date:5/26/2016)... Since its commercial introduction in ... life science tool for conducting genetic studies in a ... in its new report that the industry sits on ... by a range of new applications in the clinical ... http://photos.prnewswire.com/prnh/20140723/694805 ) , Since the Human ...
Breaking Medicine Technology:
(Date:5/31/2016)... ... 31, 2016 , ... More than 80 representatives of the Hepatitis B ... Cancer Foundation held an event on National Hepatitis Testing Day outside of Philadelphia City ... the leading cause of liver cancer. , Foundation leaders and the citywide coalition they ...
(Date:5/31/2016)... ... May 31, 2016 , ... ... mix of advanced Artificial Intelligence (AI) and the latest in Clinical Patient ... center is integrating predictive analytic outputs directly into the clinical workflow. These insights ...
(Date:5/31/2016)... ... May 31, 2016 , ... Effective leaders not only drive service to the ... whole. On June 2, Northbound CEO Mike Neatherton and COO Paul Alexander will be ... opening plenary on “Leadership: The Journey to Authenticity” with Onsite Workshops CEO Miles Adcock ...
(Date:5/31/2016)... ... 31, 2016 , ... In his latest video, renowned AstroNumerologist ... humans. Using presidential candidate Donald Trump as an example, Kalsi describes the way ... not about adding numbers up,” says Kalsi. “It is about looking at each ...
(Date:5/31/2016)... ... 31, 2016 , ... TeaZa® Energy, LLC announces the launch of ... No Tobacco Day . The new flavor—Tropical TeaZa? Energy—will be available to customers ... , The new flavor is best described as a juicy, taste bud takeover. ...
Breaking Medicine News(10 mins):