Omnicell amends credit agreement to replace LIBOR with SOFR benchmark

OMNICELL, INC.

Second Amendment to $500M credit agreement replaces LIBOR with SOFR plus 0.10% credit spread adjustment.
Effective March 29, 2023; no change to total commitment amount or financial covenants.
All subsidiary guarantors reaffirmed obligations; no default or event of default occurred.
Borrowing under LIBOR rate no longer permitted after amendment effective date.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

OMNICELL, INC. amended Second Amendment to Amended and Restated Credit Agreement with Wells Fargo Bank, National Association valued at Removed and replaced LIBOR with SOFR-based interest rate benchmark including a credit spread adjustm (effective 2023-03-29).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: Removed and replaced LIBOR with SOFR-based interest rate benchmark including a credit spread adjustm
Effective: 2023-03-29

Exact text from the filing

On March 29, 2023 , Omnicell, Inc. (the “Company”) entered into a second amendment (the “Second Amendment”) to the Company’s Amended and Restated Credit Agreement, dated as of November 15, 2019 (as amended, the “Amended and Restated Credit Agreement”), by and among the Company, the subsidiary guarantors party thereto, the lenders party thereto and Wells Fargo Bank, National Association, as the administrative agent.

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Source: SEC EDGAR

accession 0000926326-23-000009

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