PLAINSBORO, N.J., May 07, 2018 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ:IART), a leading global medical technology company, today announced that it has amended and extended its credit facility with a bank group led by Bank of America, N.A.
The overall size of the credit facility remains at $2.2 billion and consists of a revolving line of credit of $1.3 billion and a $900 million term loan. The new terms include a decrease in applicable interest rates and commitment fees, and extends the maturity of the credit facility to May 3, 2023.
“We are pleased to announce the two-year extension of our credit facility with improved pricing,” said Glenn Coleman, chief financial officer, Integra LifeSciences. “With these new terms, we have strengthened our balance sheet and increased our flexibility to pursue our long-term revenue growth and profitability strategy. We appreciate the continued support and commitment from our lending group.”
Borrowings from the new revolving facility will also be used to cover fees and expenses incurred in connection with the credit facility, and for general corporate purposes.
About Integra LifeSciences
Integra LifeSciences is a global leader in regenerative technologies, neurosurgical and extremity orthopedic solutions dedicated to limiting uncertainty for clinicians, so they can focus on providing the best patient care. Integra offers a comprehensive portfolio of high quality, leadership brands that include AmnioExcel®, Bactiseal®, Cadence®, CertasTM, Codman®, CUSA®, DuraGen®, DuraSeal®, ICP Express®, Integra®, MediHoney®, MicroFrance®, PriMatrix®, Salto Talaris®, SurgiMend®, TCC-EZ®, Titan™ and VersaTru™. For the latest news and information about Integra and its brands, please visit www.integralife.com.
