Loan & DebtJun 29, 2026, 04:07 PM
Zimmer Biomet Secures New $2.75B Revolving Credit Facilities
AI Summary
Zimmer Biomet Holdings, Inc. has secured new revolving credit facilities totaling $2.75 billion. This includes a five-year, $1.5 billion facility maturing in 2031 and a 364-day, $1.25 billion facility maturing in 2027. Both agreements are for general corporate purposes and replace previous credit facilities, which were terminated with no principal balance outstanding.
Key Highlights
- Entered new five-year revolving credit agreement for $1.5 billion.
- Five-year facility matures June 26, 2031, with two one-year extension options.
- Five-year facility includes uncommitted incremental feature up to $750 million.
- Entered new 364-day revolving credit agreement for $1.25 billion.
- 364-day facility matures June 25, 2027.
- Both facilities for general corporate purposes and bear floating interest rates.
- Both facilities require consolidated indebtedness to EBITDA ratio no greater than 4.5 to 1.0.
- Terminated previous 2025 five-year and 364-day credit agreements.
Price Impact
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