ResMed gets $50 million term loan D

By Sara Rosenberg

New York, Oct. 6 - ResMed Ltd., the Australian subsidiary of ResMed Inc., amended and restated its credit facility to provide for an additional $50 million one-year term loan D, according to an 8-K filed with the Securities and Exchange Commission Monday.

HSBC acted as the lead bank on the deal that was completed on Sept. 30.

Pricing on the new loan can range from Libor plus 80 basis points to 90 bps depending on the ratio of total debt to EBITDA.

Financial covenants include a minimum debt service coverage ratio, a maximum ratio of total debt to EBITDA and a minimum tangible net worth.

Proceeds will be used for general corporate purposes.

ResMed is a Poway, Calif.-based designer, manufacturer and marketer of equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders.

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