Ortho Clinical Diagnostics Amends Credit Agreement to Extend Maturity and Increase Borrowing Capacity Under its Revolving Credit Facility

Rhea-AI Summary

Ortho Clinical Diagnostics Holdings plc (Nasdaq: OCDX) announced on February 5, 2021, the amendment of its credit agreement, increasing its revolving credit facility by $150 million to a total of $500 million. The maturity date has been extended to February 26, 2026. This move is expected to enhance the company's liquidity, aiding in its operational capabilities. Detailed information can be found in an 8-K filing with the SEC.

Positive

• Revolving credit facility increased by $150 million, improving liquidity.
• Maturity date extended to 2026, providing financial stability.

Negative

• None.

News Market Reaction – OCDX

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-0.28% Session move

In the trading session that priced this news, OCDX declined 0.28%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Increases facility by $150 million and extends it to 2026

RARITAN, N.J., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Ortho Clinical Diagnostics Holdings plc (Nasdaq: OCDX) ("Ortho"), one of the world's largest pure-play in vitro diagnostics companies, today announced that certain of its subsidiaries successfully amended their June 30, 2014 credit agreement (the “Credit Agreement”) on February 5, 2021.

The amendment increases the revolving credit facility under the Credit Agreement by $150 million to an aggregate amount of $500 million and extends the maturity date to February 26, 2026, provided that such date may be accelerated subject to certain circumstances.

The Company has filed an 8-K with the Securities and Exchange Commission with more information regarding the Amended Credit Agreement.

About Ortho Clinical Diagnostics

Ortho Clinical Diagnostics is a global leader of in vitro diagnostics dedicated to improving and saving lives through innovative laboratory testing and blood-typing solutions.

Because Every Test is a Life™, we never stop innovating to offer streamlined, sustainable laboratory solutions that deliver fast, accurate, reliable test results that support exceptional patient care.

As a trusted partner of hospitals, hospital networks, blood banks, and labs around the world, we proudly serve the clinical laboratory and transfusion medicine communities with customized solutions that enhance clinical outcomes, improve lab performance, overcome staffing challenges and better manage costs.

We are powered by Ortho Care™, our global, award-winning, holistic approach to service, which supports customers with best-in-class technical support, award-winning field support, and remote service and inventory support.

For more information about Ortho’s solutions and services, visit Ortho’s website or social media channels: LinkedIn, Twitter, Facebook and YouTube.

Investors:
IR@orthoclinicaldiagnostics.com

Media:
media@orthoclinicaldiagnostics.com

Source: Ortho Clinical Diagnostics

FAQ

What recent financial changes did Ortho Clinical Diagnostics announce?

Ortho Clinical Diagnostics announced an increase of $150 million in its revolving credit facility, raising the total to $500 million.

When was the credit agreement amendment for OCDX announced?

The amendment to the credit agreement was announced on February 5, 2021.

What is the new maturity date for Ortho Clinical Diagnostics' credit facility?

The maturity date for the credit facility is now February 26, 2026.

How does the credit facility increase benefit OCDX?

The increased credit facility enhances liquidity, supporting operational capabilities for Ortho Clinical Diagnostics.