NEW YORK – Bruker said today it has completed debt financing with which it aims to add to its financial flexibility and fund corporate strategic objectives.
The company said the move takes advantage of low interest rates in the US and Europe while fixing rates on roughly 60 percent of its borrowing capacity and extending debt maturities to 2026 and 2029.
The financing actions include: entering a five-year revolving credit facility from which the company can borrow up to $600 million; a seven-year term loan for $300 million with cross-currency and interest rate swap arrangements which fix rates to Euro and Swiss Franc rates; private placement of 10-year senior noted in the amount of CHF 297 million ($302 million); and cross-currency swap arrangements on existing 2012 private placement notes of $205 million which fix rates to Euro and Swiss Franc rates.
Bruker said it expects the net impact of the financing to be accretive to its earnings per share in 2020 and beyond.