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:1/19/2017)... 19, 2017 Pfizer joins ... Milner Therapeutics Consortium   Major research ... Cambridge   The Milner Therapeutics ... ) as a partner to the Milner Therapeutics Consortium. ... the efficient transfer of materials between industry and academia ...
(Date:1/19/2017)... Marks E-QURE , s 3 ... agreements in Israel and Argentina ... billion global market ... devices for the treatment of advanced wound care, announced today it signed a ... Colombia for the Company,s patented Bio-electrical Signal Therapy device ("BST Device"), ...
(Date:1/19/2017)... 18, 2017   Synthetic Biologics, Inc. ... therapeutics designed to preserve the microbiome to protect ... plans to initiate a Phase 2b/3 adaptive pivotal ... lovastatin lactone designed to reduce methane production by ... gut to treat the underlying cause of irritable ...
Breaking Medicine Technology:
(Date:1/19/2017)... ... January 19, 2017 , ... ... E-learning system for Clinical and Regulatory education for Physicians, Physician Advisors, Case ... successful education methodology of Disease Specific Documentation Improvement. , The Aerolib Learning ...
(Date:1/19/2017)... ... ... here, many people will have to clear snow with snow blowers or shovels from driveways ... can be dangerous when used incorrectly. That’s why Amica Insurance is sharing the ... blowers:, , When removing wet snow or debris from the blower, ...
(Date:1/19/2017)... ... ... WhoHaha , a digital media company dedicated to creating and delivering female-centric, comedic ... video series that uses humor to highlight ways to improve heart health and overall ... Good™ movement, which is designed to inspire all Americans to make small changes that ...
(Date:1/19/2017)... , ... January 19, 2017 , ... ... a medical capacity this year. Drs. Alexander Paziotopoulos, Andrew Petersen and Trish Henrie-Barrus ... condensed version of the clinic’s leading recovery program. , “We know it’s ...
(Date:1/19/2017)... IL (PRWEB) , ... January 19, 2017 , ... ... N.A., announced it recently provided a new $11,250,000 senior credit facility to Sunrise, ... new MB credit facility were used to facilitate a recapitalization of MedPro led ...
Breaking Medicine News(10 mins):