{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-185355","form_type":"8-K","ticker":"QDEL","cik":"0001906324","company_name":"QuidelOrtho Corp","filed_at":"2025-08-21T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.567786+00:00","generated_at":"2026-05-17T10:57:12.619484+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"QuidelOrtho refinances with $1.15B Term Loan A, $1.45B Term Loan B, $700M revolver","bullets":["New credit facility includes $1.15B 5-yr Term Loan A, $1.45B 7-yr Term Loan B, $700M revolver, and $100M delayed draw Term Loan A (undrawn).","Proceeds used to repay existing 2022 credit facility; maturities extended to 2030 (Term Loan A/Revolver) and 2032 (Term Loan B).","Initial applicable rate for Term Loan B is 4.00% (SOFR); Term Loan A/Revolver rate is 2.25% (SOFR) initially, with pricing grid based on leverage.","Financial covenants: max leverage ratio 4.50x (first 3 yrs) then 4.25x; min interest coverage 3.00x.","CFO states priority remains debt reduction and net debt leverage improvement; refinancing provides greater flexibility."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-185355","json":"https://secwatch.observer/filing/0001193125-25-185355.json","markdown":"https://secwatch.observer/filing/0001193125-25-185355.md","text":"https://secwatch.observer/filing/0001193125-25-185355.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/d912844d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T10:57:12.619484+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"14e25e829a765d4fe63e362696dedd0636aa7a66","claim":"QuidelOrtho Corp incurred term loan of $1.15 billion senior secured term loan A facility with Bank of America, N.A. at Term SOFR plus 2.25% per annum maturing August 21, 2030.","evidence_excerpt":"and the other lenders and L/C issuers party thereto (together with Bank of America, the “Lenders”). Pursuant to the Credit Agreement, the Lenders provided the Company with (i) a $1.15 billion senior secured term loan A facility (the “Term Loan A”), (ii) a $100.0 million senior secured delayed draw term loan A facility (the “DDTL Term Loan A”; together with the Term","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$1.15 billion senior secured term loan A facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Rate","value":"Term SOFR plus 2.25% per annum"},{"label":"Maturity","value":"August 21, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1d1cf4ae0247b6c09abb3b15ef2204062b09bd1b","claim":"QuidelOrtho Corp incurred term loan of $100.0 million senior secured delayed draw term loan A facility with Bank of America, N.A. at Term SOFR plus 2.25% per annum maturing August 21, 2030.","evidence_excerpt":"the “Lenders”). Pursuant to the Credit Agreement, the Lenders provided the Company with (i) a $1.15 billion senior secured term loan A facility (the “Term Loan A”), (ii) a $100.0 million senior secured delayed draw term loan A facility (the “DDTL Term Loan A”; together with the Term Loan A, the “Term Loan A Facilities”), (iii) a $1.45 billion senior secured term","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$100.0 million senior secured delayed draw term loan A facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Rate","value":"Term SOFR plus 2.25% per annum"},{"label":"Maturity","value":"August 21, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"36a7678893dfa15b8cc76fde51734a6f8f11b2ab","claim":"QuidelOrtho Corp incurred revolving credit of $700.0 million revolving credit facility with Bank of America, N.A. at Term SOFR plus 2.25% per annum maturing August 21, 2030.","evidence_excerpt":"Loan A Facilities”), (iii) a $1.45 billion senior secured term loan B facility (the “Term Loan B”; collectively with the Term Loan A Facilities, the “Term Loans”) and (iv) a $700.0 million revolving credit facility (the “Revolving Credit Facility”; together with the Term Loans, the “Financing”). The Financing is guaranteed by certain material domestic subsidiaries","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$700.0 million revolving credit facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Rate","value":"Term SOFR plus 2.25% per annum"},{"label":"Maturity","value":"August 21, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"de97e5f4a36f8681942051766401d284928fb323","claim":"QuidelOrtho Corp incurred term loan of $1.45 billion senior secured term loan B facility with Bank of America, N.A. at Term SOFR plus 4.00% per annum maturing August 21, 2032.","evidence_excerpt":"Loan A”), (ii) a $100.0 million senior secured delayed draw term loan A facility (the “DDTL Term Loan A”; together with the Term Loan A, the “Term Loan A Facilities”), (iii) a $1.45 billion senior secured term loan B facility (the “Term Loan B”; collectively with the Term Loan A Facilities, the “Term Loans”) and (iv) a $700.0 million revolving credit facility (the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$1.45 billion senior secured term loan B facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Rate","value":"Term SOFR plus 4.00% per annum"},{"label":"Maturity","value":"August 21, 2032"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}