Bioventus Enters into a New $400 Million Senior Secured Credit Agreement Lowering Interest Expense and Providing Increased Liquidity

Core Viewpoint - Bioventus Inc. has secured a $400 million Senior Secured Credit Agreement, which includes a $300 million term loan and a $100 million revolving credit facility, aimed at enhancing liquidity and financial flexibility [1][2][3]. Group 1: Credit Agreement Details - The new Credit Agreement increases the revolving credit facility from $40 million to $100 million compared to the previous 2019 Credit Agreement [2]. - The interest margin has been reduced by 75 basis points, resulting in over $2 million in annual interest expense savings [2]. - The annual amortization on the term loan has been lowered from 10% to 5% for the duration of the loan [2]. Group 2: Financial Impact and Use of Proceeds - The proceeds from the Credit Agreement were utilized to repay the outstanding loan balance of $333 million under the 2019 Credit Agreement [3]. - The repayment was accomplished using $30 million drawn from the new revolving credit facility, $3 million in cash from the balance sheet, and the new $300 million term loan [3]. Group 3: Company Overview - Bioventus is recognized for delivering clinically proven, cost-effective products that facilitate quick and safe healing, with a mission to help patients resume active lives [4]. - The company focuses on innovations for active healing, including pain treatments, restorative therapies, and surgical solutions [4].