Hill-Rom Holdings Inc. said it entered a senior credit agreement totaling $2.2 billion with JPMorgan Chase Bank as administrative agent.
The agreement includes a five-year secured term loan A facility worth $1 billion and a five-year revolving credit facility worth $1.2 billion.
The Chicago-based medical technology and healthcare equipment company used a portion of the loan to repay outstanding borrowing under a previous credit agreement.
The amortization rate for the first three years is set at 5% per annum and 7.5% per annum for the fourth year. For the fifth year, the amortization rate is 10% per annum for the first three fiscal quarters and remainder at maturity.
