Bioventus Inc. (BVS): debt financing — Bioventus enters $400M credit facility to refinance existing debt

Bioventus Inc.

$100M revolving credit facility and $300M term loan A facility, maturing July 31, 2030.
Initial interest rate: Term SOFR + 2.50% margin, subject to performance grid (1.75%-2.75%).
$30M drawn on revolver at closing; proceeds used to refinance existing 2019 credit facilities.
Financial covenants: max total net leverage ratio 4.00x (step down to 3.50x), min interest coverage 2.50x.
Facility secured by substantially all assets; includes $7.5M L/C and $7.5M swingline subfacilities.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bioventus Inc. incurred credit facility of a $100 million revolving credit facility and a $300 million first lien term loan A facility with Wells Fargo Bank, National Association at Term SOFR plus a margin of 2.50% maturing July 31, 2030.

Instrument: credit facility
Principal: a $100 million revolving credit facility and a $300 million first lien term loan A facility
Counterparty: Wells Fargo Bank, National Association
Rate: Term SOFR plus a margin of 2.50%
Maturity: July 31, 2030
Event: incurrence

Exact text from the filing

On July 31, 2025 (the “Closing Date”), Bioventus LLC, a Delaware limited liability company and subsidiary of Bioventus Inc. (“Bioventus LLC” or the “Company”) and certain of its subsidiaries entered into a Credit Agreement (the “2025 Credit Agreement”) with Wells Fargo Bank, National Association, as administrative agent, and the lenders and other financial institutions party thereto. Pursuant to the 2025 Credit Agreement, the Company entered into a $100 million revolving credit facility (the “Revolving Credit Facility”) and a $300 million first lien term loan A facility (the “Term Loan Facility”, and together with the Revolving Credit Facility, the “Credit Facilities”).

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Source: SEC EDGAR

accession 0001193125-25-172192

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