BVS - Bioventus Enters into an Amendment with its Credit Agreement Lenders to Enhance Financial and Operational Flexibility | Benzinga
DURHAM, N.C., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Bioventus Inc. (NASDAQ:BVS) ("Bioventus" or the "Company"), a global leader in innovations for active healing, today announced that it has entered into an Amendment No. 5 (the "Amendment") to the Credit and Guaranty Agreement, between the Company, Wells Fargo Bank, National Association as Administrative Agent and Collateral Agent, and the Lenders from time to time party thereto, dated as of December 6, 2019 and as amended on August 29, 2021, October 29, 2021, July 11, 2022 and March 31, 2023 (the "Credit Agreement").
Among other items, the Amendment provides for additional financial covenant relief through the Third Quarter of 2025, including the Company's leverage maintenance covenant and interest coverage ratio. The amended covenant levels are expected to provide the Company with greater financial and operational flexibility relative to its operating plan in order to execute on key growth initiatives and enhance profitability. Financial covenant thresholds will revert to existing levels under the Credit Agreement for all covenants by the Fourth Quarter of 2025.
About Bioventus
Bioventus delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy ...