Zimmer Biomet to issue $750 million of senior notes in connection with LDR merger

By Lisa Kerner

Charlotte, N.C., June 7 – Zimmer Biomet Holdings, Inc. plans to issue $750 million of senior unsecured notes in connection with its acquisition of LDR Holding Corp.

Proceeds from the offer will be used to repay Zimmer’s revolving credit facility.

The company will use existing availability under the facility, plus cash on hand, to complete the tender offer for LDR.

Zimmer will pay $37.00 per share for a transaction value of about $1 billion, according to a news release.

The transaction is expected to close in the third quarter.

Goldman Sachs & Co. is acting as financial adviser to Zimmer.

Zimmer Biomet, based in Warsaw, Ind., designs, manufactures and markets orthopedic reconstructive and other products.

LDR is a medical device company that designs surgical technologies for the treatment of patients suffering from spine disorders. The company is based in Austin, Texas.

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