Navigation Links
Hologic Announces Completion of Term Loan B Repricing
Date:8/2/2013

BEDFORD, Mass., Aug. 2, 2013 /PRNewswire/ -- Hologic, Inc. (Hologic or the Company) (NASDAQ: HOLX), a leading developer, manufacturer and supplier of premium diagnostics products, medical imaging systems and surgical products with an emphasis on serving the healthcare needs of women, announced today that the Company completed a repricing of its senior secured tranche B term loan facility (Term Loan B) under the Company's Credit and Guaranty Agreement (Credit Agreement) dated August 1, 2012.

On Aug. 2, 2013, the Company and several of its domestic subsidiaries (Guarantors), together with Goldman Sachs Bank USA, as administrative and collateral agent, and the lenders party thereto entered into Refinancing Amendment No. 2 (Credit Agreement Amendment 2) to the Credit Agreement.

The Credit Agreement Amendment 2 refinances the Company's existing Term Loan B with a maturity date of August 1, 2019, resulting in a 75 basis point reduction in the interest rate as of the Credit Agreement Amendment 2 closing date (from 3.50% plus LIBOR with a 1.00% floor to 2.75% plus LIBOR with a 1.00% floor). In conjunction with the refinancing, the Credit Agreement Amendment 2 also amends certain of the covenants in the Credit Agreement to increase the Company's capacity to repurchase shares of its common stock and issue dividends. The Company increased its general restricted junior payments basket to $250 million (from $25 million) and increased the total net leverage allowable to 4.0x (from 3.5x) for directing unused excess cash flow for restricted junior payments. In addition, the Company voluntarily prepaid $200 million of the Term Loan B on August 2, 2013. In connection with this prepayment, the Company will incur a one-time non-cash charge to earnings in the fourth quarter of approximately $4 million to write-off certain deferred financing costs. Immediately following the completion of this prepayment, the principal amount outstanding on the Term Loan B was approximately $1.285 billion.  

Previously, on March 20, 2013, the Company entered into an amendment to its Credit Agreement in which it refinanced its senior secured tranche A term loan facility and senior secured revolving credit facility, resulting in a 100 basis point reduction in the interest rates on each of those facilities.

About Hologic, Inc. Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostic products, medical imaging systems, and surgical products, with an emphasis on serving the healthcare needs of women. The Company operates four core business units focused on diagnostics, breast health, GYN surgical and skeletal health. With a comprehensive suite of technologies and a robust research and development program, Hologic is committed to improving lives. The Company is headquartered in Massachusetts. For more information, visit www.hologic.com.

Hologic and associated logos are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.Contacts:Deborah GordonDavid CrossVice President, Investor RelationsVice President & Treasurer(781) 999-77(781) 999-7789deborah.gordon@hologic.comdavid.cross@hologic.com Al KildaniSenior Director, Investor Relations (858) 410-8653al.kildani@hologic.com
'/>"/>

SOURCE Hologic, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. FDA Clears Hologics Single Energy Femur Exam to Visualize Features Associated with Developing Atypical Femur Fractures on a DXA Platform
2. FDA APPROVES APTIMA HPV ASSAY FOR USE ON HOLOGICS PANTHER SYSTEM
3. Hologic Appoints Jack W. Cumming President and Chief Executive Officer
4. Commercial Release of 3D (Breast Tomosynthesis) Biopsy Option Strengthens Hologics Position as Provider of the Nations Most Comprehensive Portfolio of Interventional Breast Health Solutions
5. Quest Diagnostics and Hologic Form Strategic Alliance to Improve Womens Health
6. Hologic riceve lapprovazione FDA per una nuova soluzione di mammografia 3D (tomosintesi al seno) a bassa dose per lo screening del tumore al seno
7. Hologic erhält FDA-Zulassung für eine neue niedrigdosierte 3D-Mammographie-Lösung (Brust-Tomosynthese) für Brustkrebs-Screening
8. First Large-Scale Population-Based Study in the U.S. Shows Hologics 3D Mammography (Breast Tomosynthesis) Significantly Reduces Recall Rates While Simultaneously Improving Cancer Detection
9. Hologic to Present at Three Upcoming Investor Conferences
10. Hologic Appoints Scott Garrett to Board of Directors
11. I benefici della tecnologia Hologic per lutilizzo della Tomosintesi in vengono corroborati dalla pubblicazione di uno studio italiano
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/4/2016)... DUBLIN, Ohio , Feb. 4, 2016 ... Pricing Program, or those already participating in the program, ... Guidance, often referred to as the , Mega-Guidance , ... the final guidance is published in September 2016. ... 340B Product and Service Marketing , summarizes the Mega-Guidance,s ...
(Date:2/4/2016)... Feb. 4, 2016 Worldwide Radiology Oncology ... growth as next generation systems provide a way ... for cancer surgery. New systems pinpoint the delivery ... has been such a problem previously, limiting the ... robots take cancer surgery far beyond what has ...
(Date:2/4/2016)... 2016 Wegener Polyangiitis - Pipeline Review, ... ,Wegener Polyangiitis - Pipeline Review, H2 2015, provides ... This report provides comprehensive information on the ... analysis at various stages, therapeutics assessment by drug ... (RoA) and molecule type, along with latest updates, ...
Breaking Medicine Technology:
(Date:2/5/2016)... , ... February 05, 2016 , ... ... the addition of micro-needling services in their Napa Valley office. The technique utilizes ... Plastic Surgery Associates, Dr. Canales and Dr. Furnas, are part of only a ...
(Date:2/5/2016)... ... ... After years as an active staff surgeon and having served as the ... Carman transitioned to chief of the Division of Plastic Surgery at what is now ... and began a second three-year term in January of 2016. , The original selection ...
(Date:2/5/2016)... ... February 05, 2016 , ... In the fourth quarter of ... at the La Valencia Hotel in San Diego, California to discuss changes in ... year’s most outstanding franchise, walking away with the coveted David Wright Award of ...
(Date:2/5/2016)... ... February 05, 2016 , ... Give To Cure ... to search for and donate to Give To Cure’s campaign that is crowdfunding clinical ... lets users make and share payments through a smart device. In 2015 alone, Venmo ...
(Date:2/5/2016)... New York, New York (PRWEB) , ... February 05, 2016 , ... ... (APDA) announced the election of Patrick McDermott as Chairman of the National Board of ... welcome Pat as Chairman of the Board,” stated Leslie A. Chambers , APDA ...
Breaking Medicine News(10 mins):