Teleflex: Refinancing transactions completed

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Teleflex Inc. announced today that it has prepaid all of its outstanding senior notes issued in 2007, which had an aggregate outstanding principal amount of $196.6 million and would have matured in 2012 and 2014.

The prepayment of the 2007 notes was completed as part of the company's previously announced debt refinancing, pursuant to which Teleflex also repaid $200 million in term loan borrowings under its senior credit facility and extended the maturities of a portion of its outstanding and available borrowings under the credit facility from 2012 to 2014.

"I am pleased to have the refinancing transactions completed," chairman and CEO Jeffrey Black said in a statement. "Our new structure keeps our cost of capital unchanged while providing us with increased financial flexibility and access to more capital to support the company's future growth initiatives.

"Although this transaction is expected to be slightly dilutive, we remain confident in maintaining our previously provided 2010 financial outlook, excluding special items," he added.

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