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Get filing alertsZimmer Biomet secures $2.75B in new revolving credit facilities, replaces 2025 agreements
Filed June 29, 2026 · Period ending June 26, 2026 · ~1 min read
Key Changes
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high
Entered $1.5B five-year unsecured revolving facility maturing June 2031, with option to extend two years and increase by up to $750M; replaces 2025 five-year agreement with no principal outstanding.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
medium
Added $1.25B 364-day unsecured revolving facility maturing June 2027 for general corporate purposes; replaces 2025 364-day agreement.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
medium
Both facilities require debt-to-EBITDA ratio ≤4.5x (temporarily 5.0x post-acquisition), with interest at SOFR plus credit-rating-based margin.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
low
Terminated 2025 five-year and 364-day credit agreements with zero principal outstanding; paid $0.4M in fees with cash on hand and transitioned letters of credit to new facility.
Item 1.02 — Termination of a Material Definitive Agreement verify on EDGAR →
Summary
Zimmer Biomet refinanced its revolving credit facilities, replacing 2025 agreements with $2.75 billion in new capacity split between a $1.5 billion five-year facility and a $1.25 billion 364-day facility. The five-year agreement matures in June 2031 with two optional one-year extensions and includes an uncommitted feature allowing the company to request up to $750 million in additional capacity.
Both facilities are unsecured and bear interest at floating rates tied to SOFR plus a margin based on the company's credit rating. The refinancing was clean: no principal was outstanding under the terminated 2025 agreements, and the company paid only $0.4 million in fees with cash on hand. Existing letters of credit transferred seamlessly to the new five-year facility.
Both new agreements require the company to maintain a debt-to-EBITDA ratio of 4.5x or lower, with allowance for temporary increase to 5.0x following a qualified material acquisition. This is a routine credit facility refresh that maintains Zimmer Biomet's liquidity position for general corporate purposes while updating terms and extending maturity.
Section-by-Section Diff
Event · Item 1.02 — Termination of a Material Definitive Agreement
Zimmer Biomet terminated two 2025 credit agreements and replaced them with new facilities, with no outstanding principal at termination.
Show 3 minor / wording changes
Added in current filing · verify on EDGAR →
on June 26, 2026, the Five-Year Revolving Credit Agreement, dated as of June 27, 2025, among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the “2025 Five-Year Credit Agreement”), and the 364-Day Revolving Credit Agreement, dated as of June 27, 2025, among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the “2025 364-Day Credit Agreement”) were terminated and are of no further force or effect
The company terminated both its five-year and 364-day revolving credit agreements from 2025 in connection with entering new replacement facilities. This represents a routine refinancing of the company's credit arrangements.
Added in current filing · verify on EDGAR →
There was no principal balance outstanding under either the 2025 Five-Year Credit Agreement or the 2025 364-Day Credit Agreement at the time it was terminated. There were fees of approximately $0.4 million payable under the 2025 Five-Year Credit Agreement at the time it was terminated, the full amount of which was paid by the Company with cash on hand on June 26, 2026.
The company had zero principal outstanding under both terminated credit facilities and paid only $0.4 million in fees with cash on hand. This confirms the termination was a clean refinancing with no debt repayment required.
Added in current filing · verify on EDGAR →
all existing letters of credit issued under the 2025 Five-Year Credit Agreement were transitioned to, and now constitute outstanding letters of credit under, the Five-Year Credit Agreement.
Existing letters of credit were seamlessly transferred from the old facility to the new five-year credit agreement, ensuring continuity of these credit support instruments.
Event · Item 1.01 — Entry into a Material Definitive Agreement
Zimmer Biomet entered into $1.5B five-year and $1.25B 364-day revolving credit facilities for general corporate purposes.
Added in current filing · verify on EDGAR →
The 364-Day Revolving Credit Agreement, dated as of June 26, 2026, among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the “364-Day Credit Agreement”), is an unsecured revolving credit facility in the principal amount of $1.25 billion (the “364-Day Revolving Facility”). The 364-Day Credit Agreement will mature on June 25, 2027, and borrowings under the 364-Day Revolving Facility will be used for general corporate purposes.
Zimmer Biomet also entered into a $1.25 billion unsecured revolving credit facility with a one-year term maturing June 25, 2027. This shorter-term facility provides additional liquidity for general corporate purposes and bears interest at floating rates based on SOFR or an alternate base rate plus a margin determined by the company's credit rating.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 30, 2026 · How we verify