tiprankstipranks
Bioventus Amends Credit Agreement with Enhanced Covenants
Market News

Bioventus Amends Credit Agreement with Enhanced Covenants

Bioventus (BVS) has released an update to notify the public and investors about an entry into a material definitive agreement.

Don't Miss Our Christmas Offers:

On January 18, 2024, Bioventus LLC and its subsidiaries amended their 2019 Credit Agreement through the Fifth Amendment with Wells Fargo Bank and other financial parties. This amendment introduced new financial covenants, including a scaling maximum debt leverage ratio starting at 5.65 to 1.00 and decreasing to 4.00 to 1.00, and an interest coverage ratio beginning at 1.75 to 1.00 and increasing to 3.00 to 1.00 over time. Additionally, the company must maintain a minimum liquidity of $10 million until certain conditions are met. The Fifth Amendment also includes various customary covenants restricting company actions regarding assets, indebtedness, and equity distributions.

For further insights into BVS stock, check out TipRanks’ Stock Analysis page.

Related Articles
TheFlyBioventus upgraded to Neutral from Underweight at JPMorgan
TheFlyBioventus price target raised to $15 from $12 at Canaccord
TipRanks Auto-Generated NewsdeskBioventus Reports Strong Revenue Growth in Q3 2024
Go Ad-Free with Our App