Business Context and Reporting Period
This Form 8-K was filed by Integer Holdings Corporation on July 10, 2018. The report details the termination of a material definitive agreement regarding the company's debt obligations.
Key Financial Metrics
The filing focuses on a specific debt transaction rather than general operating metrics. Key figures include:
- Debt Instrument: 9.125% Senior Notes due 2023.
- Principal Amount: $360.0 million.
- Redemption Price: 100% of principal plus applicable "make-whole" premium and accrued interest.
- Operating Subsidiary: Greatbatch Ltd.
The filing text does not provide clear values for revenue, profit, cash flow, margins, or overall liquidity positions outside of this specific transaction.
Material Changes
On July 10, 2018, the Company completed the full redemption of the $360.0 million Senior Notes. This action resulted in the satisfaction and discharge of the Indenture dated October 27, 2015. This represents a significant reduction in the company's outstanding long-term debt.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or a discussion of general risks. The primary contingency addressed was the execution of the conditional full redemption notice issued on June 8, 2018, which was successfully completed.
Investor Verification Checklist
- Verify the total cash outflow required for the redemption, including the specific calculation of the "make-whole" premium and accrued interest.
- Confirm the impact of this $360.0 million debt reduction on the company's current leverage ratios and interest expense coverage.
- Review the company's remaining debt maturity schedule to assess future liquidity needs.