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Hologic Inks $2.8B Credit Agreements, Raises $1B in Private Placement of Notes

NEW YORK (GenomeWeb News) – Hologic disclosed after the close of the market Wednesday that it has entered into three credit agreements with Goldman Sachs totaling $2.8 billion and has raised $1 billion through a private placement of senior notes.

The firm, which closed its $3.8 billion acquisition of Gen-Probe earlier in the day, said the funds would be used to pay a portion of the transaction.

Hologic inked three separate credit agreements with Goldman Sachs Bank USA: a $1 billion senior secured tranche A term loan with a maturity date of Aug. 1, 2017; a $1.5 billion secured tranche B term loan with a maturity date of Aug. 1, 2019; and a $300 million secured revolving credit facility with a maturity date of Aug. 1, 2017.

The firm also said that it completed the private placement of senior notes with qualified institutional buyers. The notes mature on Aug. 1, 2020, and bear interest at a rate of 6.25 percent per year, payable semi-annually on Feb. 1 and Aug. 1 of each year.

In addition, the Associated Press reported Thursday that Hologic has informed the state of Wisconsin that it will close its manufacturing plant in Madison, eliminating 130 jobs. Company officials had not returned a call seeking comment by the time this article was published.

Hologic acquired Madison-based Third Wave Technologies in 2008 for $580 million. That acquisition provided Hologic with molecular diagnostics technologies and assays, including a test for human papillomavirus.

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