Senn Andrew sold $1.2M of ITGR

KKR secured a $2.1B loan for its $5.7B acquisition of Integer, with strong investor demand tightening terms. The loan was priced at 2.5% over benchmark, up to 0.5% tighter than initial discussions. Citigroup led the sale. Bloomberg data shows limited LBO financing this year, driving high demand. KKR aims to complete the Integer buyout by year-end, signaling robust credit market activity.

KKR & Co. (KKR) secured a $2.1 billion loan to finance its $5.7 billion acquisition of Integer Holdings (ITGR), with improved borrowing terms due to strong investor demand. The loan was priced at 2.5 percentage points above its benchmark, lower than initially discussed. The transaction is expected to close by the end of 2026, with Citigroup (C) leading the loan sale. KKR shares fell 1.9% on Friday, while Integer shares remained unchanged.

Integer Holdings (ITGR) agreed to a $5.7B buyout by KKR, offering $127 per share. The deal's completion depends on shareholder and regulatory approvals. ITGR withdrew its financial outlook and canceled its Q2 earnings call. If completed, ITGR will become private and delist from NYSE. ITGR's Q2 sales fell 2.6% YoY to $464.1M, with gross margin contracting to 24.3%.

KKR-affiliated entities plan to acquire Integer Holdings (ITGR) for $127 per share, a 51.8% premium over the unaffected closing price. The deal requires shareholder approval and regulatory clearances. ITGR's board recommends voting in favor, with completion subject to customary conditions. If approved, ITGR will become a subsidiary of the buyer and cease trading on NYSE.

Integer Holdings, a major medical device manufacturer, is being acquired by KKR for $5.7B. Integer supplies components to companies like Abbott, Boston Scientific, and Medtronic. The deal may impact Minnesota's med-tech industry, where Integer has significant operations. KKR's acquisition could lead to consolidation in the sector, with potential implications for competition and pricing. Integer reported $1.8B in revenue last year.

KKR will acquire medical device outsourcing company Integer Holdings in an all-cash deal valued at about $5.7 billion, paying $127 per share and assuming Integer’s outstanding debt, according to the companies. The offer implies a 4.78% premium to Integer’s Friday close. Integer shares rose 2.4% premarket. KKR said it will expand its healthcare portfolio.