WALTHAM, Mass., July 1, 2011 /PRNewswire/ — Alere Inc. (NYSE:
ALR) (“Alere”) announced today that it has closed senior
secured credit facilities totaling $2.1 billion. Jefferies
Finance LLC, GE Capital Markets, Inc., Credit Suisse and Goldman
Sachs Bank USA acted as joint lead arrangers for the credit
facilities, and GE Capital, Healthcare Financial Services serves as
administrative agent for the lenders under the credit
facilities.
The credit facilities consist of term loan facilities totaling
$1.85 billion and a $250 million revolving credit facility.
The term loan facilities consist of a $925 million “A” term
loan facility, of which $625 million was drawn at closing and $300
is available to be drawn on a delayed basis (subject to the terms
of the credit agreement for the credit facilities), and a $925
million “B” term loan facility, all of which was drawn at closing.
No amount was drawn under the revolving credit facility at
closing.
The “A” term loans and Alere’s borrowings pursuant to the
revolving line of credit bear interest at a rate per annum of, at
Alere’s option, either (i) the Base Rate, as defined in the credit
agreement, plus an applicable margin, which varies between 1.75%
and 2.50% depending on Alere’s consolidated secured leverage ratio,
or (ii) the Eurodollar Rate, as defined in the credit agreement,
plus an applicable margin, which varies between 2.75% and 3.50%
depending on Alere’s consolidated secured leverage ratio. The
“B” term loans bear interest at a rate per annum of, at Alere’s
option, either (i) the Base Rate plus an applicable margin, which
varies between 2.50% and 3.25% depending on Alere’s consolidated
secured leverage ratio, or (ii) the Eurodollar Rate plus an
applicable margin, which varies between 3.50% and 4.25% depending
on Alere’s consolidated secured leverage ratio. Interest on
“B” term loans based on
‘/>”/>
SOURCE