Bioventus Enters into a New $400 Million Senior Secured Credit Agreement Lowering Interest Expense and Providing Increased Liquidity
DURHAM, N.C., Aug. 04, 2025 (GLOBE NEWSWIRE) -- Bioventus Inc. (NASDAQ:BVS) ("Bioventus" or the "Company"), a global leader in innovations for active healing, today announced that it has entered into a $400 million Senior Secured Credit Agreement (the "Credit Agreement") consisting of a $300 million term loan facility and a $100 million revolving credit facility on July 31, 2025. The new Credit Agreement will mature on July 31, 2030.
Among the many enhancements, the new Credit Agreement provides for additional liquidity through an increase in the revolving credit facility from $40 million under the Company's previous credit facilities under the Credit and Guaranty Agreement, dated December 6, 2019, as amended (the "2019 Credit Agreement") to $100 million. The current applicable interest margin was reduced 75 basis points compared to the 2019 Credit Agreement generating more than $2 million of annual interest expense savings. Finally, the annual amortization on the term loan was lowered from 10 percent to 5 percent per year for the term of the loan.
"The new Credit Agreement lowers the interest rate on our debt and increases our liquidity, reflecting the significant progress over the past two years to increase our profitability, reduce debt, and enhance cash flow," said Rob Claypoole, Bioventus President and Chief Executive Officer. "This is expected to further increase our financial flexibility and enable greater optionality for capital deployment moving forward."
The proceeds resulting from the Credit Agreement were used to repay the outstanding loan balance of $333 million under the 2019 Credit Agreement. The Company repaid its obligations under the 2019 Credit Agreement using $30 million drawn on the new revolving credit facility along with $3 million of cash on the Company's balance sheet and the new $300 million term loan.
About Bioventus
Bioventus delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy active lives. The Innovations for Active Healing from Bioventus include offerings for Pain Treatments, Restorative Therapies and Surgical Solutions. Built on a commitment to high quality standards, evidence-based medicine and strong ethical behavior, Bioventus is a trusted partner for physicians worldwide. For more information, visit www.bioventus.com and follow the Company on LinkedIn and X. Bioventus and the Bioventus logo are registered trademarks of Bioventus LLC.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal security laws. Any statements contained herein that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements concerning future interest payments, increased liquidity and financial flexibility, options for capital deployment and our business strategy. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "potential," "positioned," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events, future trends, and future dates, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results to differ materially from those contemplated herein include, but are not limited to: we may be unable to successfully commercialize newly developed or acquired products or therapies within expected timeframes; the failure to obtain and maintain required regulatory clearances and approvals could prevent us from commercializing certain of our products; demand for our existing portfolio of products and any new products, line extensions or expanded indications depends on the continued and future acceptance of our products by physicians, patients, third-party payers and others in the medical community; market opportunities and our focus on a limited number of products; failure to achieve and maintain adequate levels of coverage and/or reimbursement for our products or future products, the procedures using our products; pricing and other competitive factors; governments outside the United States might not provide coverage or reimbursement of our products; risks related to product liability claims; fluctuations in demand for our products; issues relating to the supply of our products or their components due to product quality and regulatory compliance issues, including increased costs, disruptions of supply, shortages, contamination or mislabeling; we may face issues with respect to the supply of our products or their components due to product quality and regulatory compliance issues, including increased costs, disruptions of supply, shortages, contamination or mislabeling; our reliance on a limited number of third-party manufacturers to manufacture certain of our products; economic, political, regulatory and other risks related to international sales, manufacturing and operations; unstable political or economic conditions; risks related to our debt; legislative or regulatory reforms; and other the other risks identified in our Annual Report on Form 10-K for the year ended December 31, 2024 as such factors may be updated from time to time in Bioventus' other filings with the SEC which are accessible on the SEC's website at www.sec.gov and the Investor Relations page of Bioventus' website at https://ir.bioventus.com. Except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection, or forward-looking statement. Actual results may differ materially from those set forth in the forward-looking statements.
Investor and Media Inquiries:
Dave Crawford
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