CHICAGO, June 6, 2022 – Proskauer, a leading international law firm, today announced it represented Zebra Technologies Corporation (NASDAQ: ZBRA) on its recently announced $3.25 billion senior secured credit facility. The new loan significantly increases Zebra’s borrowing capacity and flexibility for organic and inorganic growth. Proceeds from the new term loan are also expected to fund Zebra’s pending $875 million acquisition of Matrox Imaging.
The facility consists of a $1.75 billion term loan and a $1.5 billion revolving credit facility. The facility matures May 2027 with a lower pricing tier at SOFR + 1.00% that escalates if the Total Net Leverage Ratio is greater than 1.5x.
The five-year facility is part of a comprehensive refinancing for Zebra, an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge. In addition to the new credit facility, the company retired its $875 million term loan and $1.0 billion revolving facility, which had maturity dates of August 2024.
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