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| SYK > SEC Filings for SYK > Form 8-K on 27-Aug-2012 | All Recent SEC Filings |
27-Aug-2012
Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligatio
On August 22, 2012, Stryker Corporation (the "Company") refinanced its $1,000 million Senior Unsecured Revolving Credit Facility due in August 2013 (referenced in the Company's most recent Annual Report on Form 10-K as "the 2010 Facility") with a new $1,000 million Senior Unsecured Revolving Credit Facility due August 2017 ("the 2012 Facility"). The 2012 Facility includes an increase option permitting the Company to increase the size of the facility up to an additional $500 million, a $500 million multicurrency sublimit (with no sublimit for euro borrowings), a $100 million letter of credit sublimit and other terms, conditions and covenants substantially the same as the 2010 Facility. The 2012 Facility has an annual facility fee ranging from 5 to 22.5 basis points and bears interest at LIBOR, as defined in the 2012 Facility agreement, plus an applicable margin ranging from 57.5 to 127.5 basis points, both of which are dependent on the Company's credit ratings.
The information set forth under Item 1.01 of this Form 8-K is incorporated herein by reference.
(d) Exhibits
4.1 Credit Agreement, dated as of August 22, 2012, among Stryker Corporation and certain subsidiaries, as designated borrowers; the lenders party thereto; and JPMorgan Chase Bank, N.A., as administrative agent.
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