Medtech company Zimmer Biomet has secured $2.75 billion through two new revolving credit agreements, according to a June 29 report from Street Insider.
Zimmer Biomet entered into a five-year revolving credit facility of $1.5 billion that matures on June 26, 2031. The agreement includes a feature that allows the facility to be increased by up to $750 million.
The second agreement is a 364-day revolving credit facility of $1.25 billion that matures on June 25, 2027.
The funding will be used for general corporate purposes, according to a filing with the U.S. Securities and Exchange Commission.
JPMorgan Chase Bank served as the administrative agent for both credit facilities.
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