Cleary Gottlieb represented LivaNova PLC (LivaNova) in a five-year $350 million term loan facility consisting of $300 million initial term loans and $50 million delayed draw term loans, to be borrowed within nine months from the closing of the facility.
The transaction closed on July 6, 2022. With the proceeds of the facility, LivaNova USA repaid in full a $220 million bridge facility borrowed on March 16, 2022. The remainder is expected to be used for general corporate purposes.
LivaNova is a global medical device company that designs, develops, manufactures, and sells innovative therapeutic solutions. Its primary therapeutic areas are cardiovascular and neuromodulation. LivaNova is incorporated in the UK and listed on NASDAQ.