---
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"
generated_at: "2026-05-17T10:57:12.619484+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# QuidelOrtho refinances with $1.15B Term Loan A, $1.45B Term Loan B, $700M revolver

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-185355
- JSON: https://secwatch.observer/filing/0001193125-25-185355.json
- Plain text: https://secwatch.observer/filing/0001193125-25-185355.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $1.15 billion senior secured term loan A facility
  - Counterparty: Bank of America, N.A.
  - Rate: Term SOFR plus 2.25% per annum
  - Maturity: August 21, 2030
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $100.0 million senior secured delayed draw term loan A facility
  - Counterparty: Bank of America, N.A.
  - Rate: Term SOFR plus 2.25% per annum
  - Maturity: August 21, 2030
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: $700.0 million revolving credit facility
  - Counterparty: Bank of America, N.A.
  - Rate: Term SOFR plus 2.25% per annum
  - Maturity: August 21, 2030
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $1.45 billion senior secured term loan B facility
  - Counterparty: Bank of America, N.A.
  - Rate: Term SOFR plus 4.00% per annum
  - Maturity: August 21, 2032
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1906324/000119312525185355/0001193125-25-185355-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.