BioTelemetry gets amended, restated $400 million secured revolver

By Sarah Lizee

Olympia, Wash., Jan. 28 – BioTelemetry, Inc. amended and restated its credit agreement on Monday, providing for a $400 million senior secured revolver, according to an 8-K filing with the Securities and Exchange Commission.

SunTrust Robinson Humphrey, Inc., PNC Capital Markets LLC and KeyBanc Capital Markets Inc. are the joint lead arrangers and joint bookrunners. KeyBank NA and PNC are the co-syndication agents. Silicon Valley Bank and Wells Fargo Bank, NA are the co-documentation agents.

Truist Bank is successor to SunTrust Bank as agent under the amended facility.

The company may increase commitments to the revolver or establish new incremental term loans at any time on or before the final maturity date, which is Jan. 27, 2025.

Interest is Libor plus 112.5 basis points, and the commitment fee is 17.5 bps, down from a margin of 150 bps and a fee of 20 bps previously. The current margin can vary from 100 bps to 175 bps and the fee can range from 15 bps to 30 bps, each depending on the consolidated total net leverage ratio.

Proceeds will be used to refinance debt under the existing credit agreement and to fund future acquisitions, investments, working capital and general corporate purposes.

The wireless medical technology company is based in Malvern, Pa.

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