INTEGRA LIFESCIENCES PRICES $450 MILLION IN NOTES

Integra LifeSciences priced $450 million in senior secured notes due 2033 at a 9.500% coupon on Friday, according to an SEC filing. The medical device maker ($IART) will combine the proceeds with a new credit facility to refinance its existing credit lines, with the deal expected to close October 19. A near-9.5% coupon on secured debt shows borrowing costs are still steep for mid-cap issuers, deal or no deal with the Fed on rate cuts.