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Symmetry Medical Closes $200 Million Credit Facility
Date:11/3/2010

WARSAW, Ind., Nov. 3, 2010 /PRNewswire/ -- Symmetry Medical Inc. (NYSE: SMA), a leading independent provider of products to the global orthopaedic device industry and other medical markets, announced today that it has entered into a $200 million senior secured revolving credit facility, effective November 3, 2010.  The credit facility includes an "accordion feature" that permits expansion of the borrowing capacity up to $300 million. The credit facility has a term of five years.

Initial borrowings of approximately $89 million under the credit facility were used to retire existing debt, including the existing term loans and revolving credit facility, due in June 2011.  The balance of the facility is available for general corporate and working capital requirements, international expansion and permitted acquisitions.

The new credit facility is priced at LIBOR plus an applicable percentage, ranging from 175 basis points to 275 basis points, based on the Company's leverage ratio.

J.P. Morgan Securities LLC and Wells Fargo Bank Securities, LLC acted as Joint Lead Arrangers and Joint Bookrunners for the credit facility and Periculum Capital Company, LLC served as placement agent.  JPMorgan Chase Bank, N.A. was Administrative Agent and Wells Fargo Bank, National Association was Syndication Agent.  Bank of America, N.A., Fifth Third Bank and PNC Bank, National Association served as Co-Documentation Agents.  Other participating lenders include The Northern Trust Company and U.S. Bank National Association.  

Brian Moore, President and Chief Executive Officer of Symmetry Medical, stated, "We are very pleased with the outstanding support received from our new banking group as they see us as a good investment.  The rates and terms of this agreement are much better than what we expected earlier this year and we are looking forward to u
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SOURCE Symmetry Medical Inc.
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