Zebra Technologies refinances debt with $3.25B credit facility, extends maturity to 2027, lowers pricing

ZEBRA TECHNOLOGIES CORP

New $3.25B senior secured credit facility: $1.5B revolver and $1.75B term loan, maturing May 2027.
Retired $875M term loan and $1.0B revolver (old maturity Aug 2024), improved pricing by ~25 bps to SOFR+1.00%.
Proceeds from new term loan expected to fund pending $875M acquisition of Matrox Imaging.
CFO noted $1B incremental board authorization for share repurchases and $800M floating-to-fixed interest rate swaps.

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