Orthofix cuts credit facility to $175M, amends EBITDA addbacks

Orthofix Medical Inc.

Credit facility reduced from $300M to $175M; interest rate increased in certain circumstances.
Maturity unchanged at October 25, 2024; $51M currently outstanding.
Amended EBITDA calculation allows certain expense addbacks and higher foreign subsidiary EBITDA share from Q1 2023.
Orthofix pledged ownership interest in Italian subsidiary Orthofix S.r.l. as additional collateral.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Orthofix Medical Inc. amended Second Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and certain lender parties valued at $175 million (effective 2023-06-13).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and certain lender parties
Value: $175 million
Effective: 2023-06-13

Exact text from the filing

On June 13, 2023, Orthofix Medical Inc. (the “Company”) and certain of its wholly-owned subsidiaries entered into a Limited Consent, Limited Waiver and Second Amendment to Second Amended and Restated Credit Agreement (the “Consent and Amendment”) with JPMorgan Chase Bank, N.A., as administrative agent, and certain lender parties thereto.

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Orthofix Medical Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-028350

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