QuidelOrtho amends credit agreement; leverage ratio covenant adjusted through 2025

QuidelOrtho Corp

Amendment temporarily raises max leverage to 4.25x for Q3/Q4 2024, then to 4.00x, stepping to 3.75x after June 2025.
Includes clarifying amendments to negative covenants on guarantees, investments, and subsidiary restrictions.
Borrower paid consent fee of 0.075% on aggregate revolving credit and term loan commitments to participating lenders.
Amendment effective April 25, 2024; no events of default exist after giving effect.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

QuidelOrtho Corp amended Amendment No. 2 with Bank of America, N.A., as administrative agent (effective 2024-04-25).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent
Effective: 2024-04-25

Exact text from the filing

On April 25, 2024, QuidelOrtho Corporation (the “Company”) entered into Amendment No. 2 (the “Amendment”), by and among the Company, the lenders party thereto, and Bank of America, N.A., as administrative agent, which amends that certain Credit Agreement, dated as of May 27, 2022, as amended by Increase Joinder No. 1, dated as of August 4, 2022, and as further amended by Amendment No. 1, dated as of September 8, 2023

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Source: SEC EDGAR

accession 0001906324-24-000021

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