QuidelOrtho secures covenant relief on $3.4B credit facilities through 2029

QuidelOrtho Corp

Amended Aug-2025 credit agreement on Sep-23-2026, covering $1.15B Term Loan A, $100M DDTL, $1.45B Term Loan B, $700M revolver.
Covenant Relief Period runs to Sep-2029; max leverage eased to 5.50x (through Jul-2028) stepping to 4.25x; min interest coverage 2.25x to 3.00x by Sep-2029.
Initial SOFR margin on Term A/Revolver rises to 2.50% (1.50% base rate); grid up to 3.00% thereafter. Term Loan B rate unchanged.
New limits during relief: $200M cap on acquisitions of non-Loan parties, $10M/yr and $100M total for restricted payments, Pro Forma Cash capped at $250M for revolver draws.

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