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02.12.2016 23:11:00

Teleflex Incorporated -- Moody's affirms Teleflex's Ba2 CFR on news of Vascular Solutions acquisition; outlook stable

New York, December 02, 2016 -- Moody's Investors Service ("Moody's") affirmed Teleflex Incorporated's ratings, including its Ba2 Corporate Family Rating, following its announced plan to acquire Vascular Solutions, a manufacturer of low-technology oriented coronary vascular products. Teleflex intends to fund the purchase price of about $1 billion entirely with debt. Moody's also affirmed the Ba3 senior unsecured note and the B1 convertible senior subordinated note ratings as well as the SGL-2 Speculative Grade Liquidity Rating. To fund this deal, Teleflex will establish a new bank credit facility. This will consist of a $750 million Term Loan A and a $1 billion revolver, which will replace its current $850 million revolver. The rating outlook is stable.

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