New York, June 17, 2016 -- Acelity L.P. (B3 stable), a maker of wound care and regenerative medicine products, announced revised plans to extend the maturities of its senior secured term loan debt. On June 16, the company amended and extended the majority of the U.S. term loan ($1.7 billion of the $1.9 billion outstanding) and the Euro term loan ($273 million outstanding). Each were previously slated to mature in May 2018, and the maturities on each were extended by 30 months to November 2020. Acelity has announced that it is now looking to refinance the remaining $196 million of term loan stub that was not amended and extended with proceeds from a $190 million add-on to its existing senior secured first lien notes (maturing 2021). Moody's commented that the proposed transactions are in aggregate modestly credit positive for Acelity by alleviating some near-term refinancing risk. Moody's expects the first lien notes add-on to close in late-June.

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