QuidelOrtho Corporation completed a series of transactions to refinance its debt structure and facilitate future growth opportunities.
The refinancing included a $1.15 billion 5-year senior secured Term Loan A replacing the previous Term Loan A entered into in 2022.
Additionally, a $100 million delayed draw Term Loan A, a $1.45 billion 7-year senior secured Term Loan B, and a $700 million revolving credit facility were secured.
Debt Refinancing Completion
Successfully completed the refinancing to strengthen capital structure and enhance financial flexibility.
Focus on Debt Reduction
Priority on reducing total debt and net debt leverage to improve financial standing.
Enhanced Financial Flexibility
Improved debt covenant terms and reduced required amortization payments for greater flexibility.
- The debt refinancing allows QuidelOrtho to improve its cash flow and have more financial options for business growth.
- By extending debt maturities and reducing amortization payments, the company gains the ability to fund continued expansion initiatives.
QuidelOrtho Corporation's successful debt refinancing signifies a strategic move to enhance financial stability and support long-term growth initiatives. The company's focus on reducing debt leverage and improving financial flexibility sets a positive trajectory for future developments.