Varex amends credit agreement to relax covenants on convertible note payments and leverage

Varex Imaging Corp

Amendment dated Sept 11, 2024 with Zions Bancorporation modifies Payment Conditions to allow restricted payments up to greater of 50% of CNI or $50M when leverage >2.50x.
Fixed Charge Coverage Ratio definition now excludes up to $200M in convertible note payments for covenant measurement.
For Q4 FY2024 and Q1/Q2 FY2025, cash deduction for leverage ratio calculation increased from $100M to $150M.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.