INTEGER HOLDINGS CORP 20191121 896.34 kB 8 <span id="a20191121pr-creditfaci.htm"></span><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"> <html lang="en-US"> <head>   <title>Form 8-K filed by INTEGER HOLDINGS CORP on 2019-11-21</title> </head> <body><div style="font-family:Times New Roman;font-size:10pt;"> <div><a name="s3FC0CD90A83045776E648B9B84FDE942"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:4.5pt;"><font style="font-family:inherit;font-size:4.5pt;"><br></font></div><div style="line-height:139%;padding-top:6px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:710px;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:352px;"></td><td style="width:125px;"></td><td style="width:233px;"></td></tr><tr><td rowspan="6" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:8px;text-align:left;"><img src="https://cdn.kscope.io/6f9acbc7fe7f2ab957424da3b87e25d3-itgrlogo20190925a02.jpg" alt="https://cdn.kscope.io/6f9acbc7fe7f2ab957424da3b87e25d3-itgrlogo20190925a02.jpg" style="height:70px;width:226px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;text-decoration:underline;">Integer Contact</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Investor Relations</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Tony Borowicz</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><a style="font-family:Arial;font-size:9pt;" href="#"><font style="font-family:Arial;font-size:9pt;">tony.borowicz@integer.net</font></a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">716.759.5809</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td rowspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="https://cdn.kscope.io/6f9acbc7fe7f2ab957424da3b87e25d3-coverpagelogo2a05.gif" alt="https://cdn.kscope.io/6f9acbc7fe7f2ab957424da3b87e25d3-coverpagelogo2a05.gif" style="height:29px;width:161px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:24px;text-align:center;padding-left:60px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Integer Reduces Interest Rates through Amendments </font></div><div style="line-height:120%;text-align:center;padding-left:60px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">to Senior Secured Credit Facilities </font></div><div style="line-height:180%;padding-bottom:8px;padding-top:20px;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">PLANO, TX – November 21, 2019 </font><font style="font-family:Arial;font-size:10pt;">- Integer Holdings Corporation (NYSE: ITGR), a leading medical device outsource manufacturer, today announced that as a result of its strong financial performance and favorable debt markets, the company has successfully completed amendments to its Senior Secured Credit Facilities. The amendments are estimated to reduce Integer’s cost of borrowing by $3.5 million annually, based on today’s outstanding debt.</font></div><div style="line-height:180%;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Amendment highlights:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:2px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:11pt;padding-left:32px;"><font style="font-family:inherit;font-size:11pt;">•</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:10pt;">Reduced the applicable interest rate margins by 25 basis points across the leveraged-based pricing grid for both its $200 million Revolving Credit Facility and $277 million Term Loan A Facility; and extended maturities to October 2022, an increase of two years and one year, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:2px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:11pt;padding-left:32px;"><font style="font-family:inherit;font-size:11pt;">•</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:10pt;">Reduced the applicable interest rate margin by 50 basis points for its $563 million Term Loan B Facility. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:10pt;padding-left:32px;"><font style="font-family:Arial;font-size:10pt;">•</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Modified the covenants and other provisions of the Credit Agreement to permit Integer’s previously announced fiscal year change to align with the calendar year.</font></div></td></tr></table><div style="line-height:180%;padding-bottom:8px;padding-top:8px;text-align:left;padding-left:5px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">“These amendments are consistent with the execution of our disciplined capital structure strategy. In a cost-efficient manner, we were able to lower our borrowing cost and create incremental flexibility to invest in Integer’s growth plans,” said Jason Garland, Integer’s executive vice president and chief financial officer. “We appreciate our lenders’ support in completing these amendments.” </font></div><div style="line-height:180%;padding-bottom:6px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Additional information regarding the terms of the amendment can be found on our Form 8-K filed with the Securities and Exchange Commission today.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">About Integer™</font></div><div style="line-height:120%;padding-top:5px;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device outsource (MDO) manufacturers in the world serving the cardiac, neuromodulation, vascular, portable medical and orthopedics markets. The Company provides innovative, high-quality medical technologies that enhance the lives of patients worldwide. In addition, it develops batteries for high-end niche applications in energy, military, and environmental markets. The Company's brands include Greatbatch</font><font style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">TM</sup></font><font style="font-family:Arial;font-size:10pt;"> Medical, Lake Region Medical</font><font style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">TM</sup></font><font style="font-family:Arial;font-size:10pt;"> and Electrochem</font><font style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">TM</sup></font><font style="font-family:Arial;font-size:10pt;">. Additional information is available at www.integer.net.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:24px;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#212529;font-weight:bold;">Forward-Looking Statements</font></div><div style="line-height:120%;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#212529;">Some of the statements contained in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the statement relating to our expectation regarding the amount of the reduction of our cost of borrowing. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or “variations” or the negative of these terms or other comparable terminology. These statements are only predictions and actual events </font></div><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#212529;">or results may differ materially from those stated or implied by these statements. In evaluating these statements, you should carefully consider a number of factors, </font><font style="font-family:Arial;font-size:10pt;">including, but not limited to, the following factors:</font><font style="font-family:Arial;font-size:10pt;color:#212529;"> the risk that our expectation regarding the amount of the reduction of our cost of borrowing is incorrect; </font><font style="font-family:Arial;font-size:10pt;">and other risks and uncertainties that arise from time to time and are described in Item 1A “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC</font><font style="font-family:Arial;font-size:10pt;color:#212529;">. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release, whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Contact Information</font></div><div style="line-height:120%;padding-top:5px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Tony Borowicz</font></div><div style="line-height:120%;padding-top:1px;text-align:left;padding-left:6px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">SVP, Strategy, Corporate Development & Investor Relations 716.759.5809</font></div><div style="line-height:120%;text-align:left;padding-left:6px;font-size:10pt;"><a style="font-family:Arial;font-size:10pt;" href="#"><font style="font-family:Arial;font-size:10pt;">tony.borowicz@integer.net</font></a></div><div><br></div><div></div> </div></body> </html>