secwatch.observer — SEC 8-K summary
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Issuer:     CONMED Corp (CNMD)
CIK:        0000816956
Form:       8-K
Filed at:   2025-06-16T23:59:59+00:00
Accession:  0001174947-25-000941
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CONMED enters into $750M credit agreement; maturities extended to 2030
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- New $550M USD revolver, $100M multicurrency revolver, and $100M term loan; maturity date June 10, 2030.
- Proceeds used to repay existing term loan ($100M) and $16M of revolving amounts under prior credit agreement.
- Removed fixed charge coverage ratio; added minimum interest coverage ratio of 2.75:1 (tested quarterly).
- Removed mandatory prepayments on excess cash flow and updated interest rate margins (e.g., Term Benchmark Loans at 1.125% p.a.).
- Credit agreement includes senior secured leverage ratio ≤3.75:1 and total leverage ratio ≤5.50:1 with step-ups for acquisitions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/816956/000117494725000941/0001174947-25-000941-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/816956/000117494725000941/form8k-34378_cnmd.htm
  HTML page:      https://secwatch.observer/filing/0001174947-25-000941

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