Bruker Corp. completed a $300 million seven-year term loan in addition to a five-year revolving credit facility and private placement of senior notes under its debt financing strategy.
The Billerica, Mass.-based manufacturer of scientific instruments and diagnostic solutions can borrow up to $600 million under the revolving facility, which replaces the October 2015 $500 million credit facility that was terminated. Bruker also sold 1.01% senior notes for CHF297 million that are due Dec. 11, 2029.
Bruker plans to use the funds from the debt financing for general corporate purposes, including the repayment of outstanding borrowings. Additionally, the proceeds will support the company's corporate strategic objectives.
This financing will extend the debt maturities out to 2026 and 2029, according to the company's Dec. 12 press release.