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CooperCompanies Announces $2.14 Billion Senior Credit Facility and Amendment of $500 Million 364-Day Credit Facility

The Cooper Companies, Inc. (COO) 
Last the cooper companies, inc. earnings: 3/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.coopercos.com
Company Research Source: GlobeNewswire
SAN RAMON, Calif., April 01, 2020 (GLOBE NEWSWIRE) -- CooperCompanies (NYSE:COO) today announced the closing of a new five-year $2.14 billion senior unsecured credit facility, comprised of a $1.29 billion revolving line of credit and $850 million non-amortizing term loan. Proceeds from the refinancing will be used to retire all indebtedness under the Company’s existing $1.0 billion revolving line of credit and $1.0 billion term loan, as well as for general corporate purposes. The borrowing rates will be based on the Company’s leverage ratio, as defined in the Credit Agreement, and can range from LIBOR plus 0.75 percent to 1.5 percent. The initial borrowing rate is LIBOR plus 0.875 percent, which is 25 bps lower than the Company’s current borrowing rate. The Company also announced an amendment to its $500 million 364-day credit facility to match terms and conditions of the new facility where applicable.  “We initiated this financing before COVID-19 became a pandemic, and I want to t Show less Read more
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