New Facilities highlights:
- This debt refinancing is expected to improve Integer’s future annualized diluted earnings per share by approximately
$0.15 , based on today’s outstanding debt and current interest rates - Nearest debt maturity extended by four years from 2022 to 2026
- Improved key credit documentation terms that provide flexibility for ongoing operating and strategic initiatives
- Liquidity (cash + revolver availability) increased by approximately
$120 million - In conjunction with this transaction, both Moody’s & S&P have upgraded Integer’s corporate family and senior secured ratings to Ba3/BB- (each with stable outlooks)
“Our new credit facilities are consistent with the execution of our disciplined capital structure strategy,” said
Additional information regarding the terms of the New Facilities can be found on our Form 8-K filed with the
About Integer®
Forward-Looking Statements
Some of the statements contained in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the statements relating to our expectation of the benefits of the New Facilities. These forward-looking statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or variations or the negative of these terms or other comparable terminology. These statements are subject to risks, uncertainties and assumptions and are only predictions and actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements, you should carefully consider a number of factors, including, but not limited to, risks and uncertainties that arise from time to time and are described in Item 1A “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release, whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
Investor Relations
tony.borowicz@integer.net
716.759.5809
Media Relations
kelly.butler@integer.net
214.618.4216
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