Zebra Technologies repriced its $1.96 billion term loan. JPMorgan Chase Bank served as revolving facility administrative agent, and Morgan Stanley Senior Funding served as term loan administrative agent and collateral agent.
Under the amended term loan, the interest rate was reduced by 75 basis points to LIBOR+3.25% (LIBOR floor of 0.75% is unchanged), from LIBOR+4.00%, which is expected to generate annualized interest expense net savings of approximately $14 million based on the current principal balance outstanding.
