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CryoLife secures $255mm in credit facilities to finance Jotec purchase

Executive Summary

CryoLife Inc., concurrent with its $225mm cash and stock acquisition of aortic repair company Jotec, secured new $255mm credit facilities underwritten by Deutsche Bank, Capital One, and Fifth Third Bank. One is a $225mm term loan and the other is a $30mm undrawn revolving credit facility. CryoLIfe doesn’t expect to draw down the credit line, but the money is there if it needs it. The company will use the money to finance the $168.75mm cash portion of its Jotec purchase and to refinance an existing $69mm term loan.
Deal Industry
  • Biotechnology
  • Medical Devices
  • Medical Devices
    • Biomaterials
    • Implantable Devices
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Placement

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