STERIS plc has entered into two new material credit agreements: a $1.6 billion revolving credit facility that replaces its existing agreement, and a new $500 million delayed draw term loan facility. The term loan is designated to finance the pending acquisition of Xodus Medical, Inc.
Key Details
- New Revolving Credit Facility: Entered into a $1.6 billion revolving credit agreement on November 4, 2026, which matures on November 4, 2031. This facility replaces the company's existing 2024 credit agreement and allows for an incremental increase of up to $800 million.
- Acquisition Financing: Secured a new $500 million delayed draw term loan agreement specifically to fund the acquisition of Xodus Medical, Inc. The facility's availability is contingent upon the deal's consummation and matures five years after the acquisition closing date.
- Termination of Prior Agreement: In connection with the new revolver, the company terminated its existing revolving credit agreement, which was dated October 7, 2024.