ZIMMER BIOMET HOLDINGS, INC.

$2.5bn committed across 2 active facilities, next covenant test Sep 30, 2026. ZBH

Orthopedic, Prosthetic & Surgical Appliances & Supplies

Recent changes

  1. Jun 30, 2025ZIMMER BIOMET HOLDINGS, INC. signs $1bn 364-DAY REVOLVING CREDIT AGREEMENTSEC ↗
  2. Jun 30, 2025ZIMMER BIOMET HOLDINGS, INC. signs $1.5bn FIVE-YEAR REVOLVING CREDIT AGREEMENT, matures Jun 2030SEC ↗

Net leverage: when the limit steps, and which way the company's ratio has been moving.

4.80x3.50x2.19x
Tested quarterly32.0%ratio 3.06x, estimated, vs 4.50x limit in force at Jun 30, 20264.50x
Permit the Consolidated Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower (each such period, a “Test Period”) to exceed 4.50 to 1.00; provided that upon the consummation of a Qualified Material Acquisition, if the Borrower shall so elect by a written notice delivered to the Administrative Agent within 30 days following such consummation, the maximum permitted ratio set forth above shall be increased to 5.00 to 1.00 at the end of and for the fiscal quarter in which such Qualified Material Acquisition is consummated and the subsequent three consecutive fiscal quarters (the “Leverage Increase Period”)
Read the filing on sec.gov ↗
Tested quarterly32.0%ratio 3.06x, estimated, vs 4.50x limit in force at Jun 30, 20264.50x
Permit the Consolidated Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower (each such period, a “Test Period”) to exceed 4.50 to 1.00
Read the filing on sec.gov ↗

Download CSV · Download JSON

FIVE-YEAR REVOLVING CREDIT AGREEMENT

Signed Jun 27, 2025

Committed
$1.5bn
Matures
Jun 2030
Agent
JPMORGAN CHASE BANK, N.A.
TrancheSizeMaturesMargin
Revolving credit facility$1.5bnJun 203080–130 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level Category 1A-/A3 or higher80 bps8 bps
Level Category 2BBB+/Baa191 bps9 bps
Level Category 3BBB/Baa2102 bps11 bps
Level Category 4BBB-/Baa3110 bps15 bps
Level Category 5BB+/Ba1 or lower130 bps20 bps

Lenders: JPMORGAN CHASE BANK, N.A., CITIBANK, N.A., MIZUHO BANK, LTD., BOFA SECURITIES, INC., BARCLAYS BANK PLC., BNP PARIBAS SECURITIES CORP., DNB MARKETS, INC., GOLDMAN SACHS BANK USA., HSBC SECURITIES (USA) INC., MORGAN STANLEY MUFG LOAN PARTNERS, LLC., RBC CAPITAL MARKETS, SUMITOMO MITSUI BANKING CORPORATION

364-DAY REVOLVING CREDIT AGREEMENT

Signed Jun 27, 2025

Committed
$1bn
Matures
n/a
Agent
JPMORGAN CHASE BANK, N.A.
TrancheSizeMaturesMargin
Revolving credit facility$1bnn/a82–135 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level Category 1A-/A3 or higher82 bps6 bps
Level Category 2BBB+/Baa193 bps8 bps
Level Category 3BBB/Baa2104 bps9 bps
Level Category 4BBB-/Baa3113 bps13 bps
Level Category 5BB+/Ba1 or lower135 bps15 bps

Lenders: JPMORGAN CHASE BANK, N.A., CITIBANK, N.A., MIZUHO BANK, LTD., BOFA SECURITIES, INC., BARCLAYS BANK PLC, BNP PARIBAS SECURITIES CORP., DNB MARKETS, INC., GOLDMAN SACHS BANK USA, HSBC SECURITIES (USA) INC., MORGAN STANLEY MUFG LOAN PARTNERS, LLC, RBC CAPITAL MARKETS, SUMITOMO MITSUI BANKING CORPORATION

No amendments on file yet.

Report an error

Email [email protected].