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LivaNova enters loan agreement with BoA Merrill Lynch to support TandemLife acquisition
01 Mar 2018
In connection with its acquisition of cardiopulmonary device firm TandemLife, LivaNova PLC entered into a $170mm term loan facility with Bank of America Merrill Lynch International Ltd. The facility will terminate on August 14, 2018, but can be extended to February 13, 2019 under certain circumstances. The loan bears interest at a variable annual rate based on LIBOR plus an applicable margin of 0.75% per annum for the first six months, 1% for the following three months, and 1.25% after that time. For TandemLife, LivaNova is paying $200mm up front and up to $50mm in regulatory milestones.
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