Integra LifeSciences closes $450M notes offering and refinances debt

Integra LifeSciences Holdings Corporation (NASDAQ: IART) has completed a private offering of $450 million in aggregate principal amount of 9.500% senior secured notes due 2033, according to a press release from the Princeton, N.J.-based company.

Integra also amended and restated its existing credit facility, bringing the total size to approximately $1.65 billion. The restructured credit facility consists of a $600 million senior secured revolving credit facility with a five-year maturity, a $600 million senior secured term loan A facility with a five-year maturity, and a $450 million senior secured term loan B facility with a seven-year maturity.

The notes are general senior secured obligations of the company and are guaranteed by Integra's wholly-owned domestic subsidiaries that serve as guarantors under the credit facility.

Net proceeds from the notes offering, combined with borrowings under the new credit facility, were used to refinance the company's existing credit facility and cover associated fees and expenses.

The notes and related guarantees were not registered under the Securities Act of 1933 and were offered only to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S.

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