Myriad Genetics amends credit agreement: revolver cut to $200M, covenants waived through July 2023

MYRIAD GENETICS INC

Revolving commitments reduced from $300M to $200M, further to $150M by Dec 31, 2022; potential additional $50M cut from asset sales.
Leverage ratio and interest coverage ratio covenants waived through July 31, 2023, the maturity date of the credit facility.
Interest rate benchmark switched from LIBOR to SOFR; applicable margins and undrawn fees unchanged.
Monthly liquidity reporting required if total revolving exposure > $0 (net of LC exposure under $5M).
Lenders received a fee of 0.25% of their commitments for agreeing to the amendment.

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