Orthofix prepays $7 million of bank debt

By Sara Rosenberg

New York, Feb. 10 - Orthofix International NV prepaid $7 million of its credit facility on Tuesday, according to a news release.

"This is the second debt repayment we have made ahead of the scheduled maturity date within the last three months. It demonstrates not only our desire to continue deleveraging our balance sheet, but our improved cash generation over the last few months," said Bob Vaters, executive vice president and chief financial officer, in the release.

"With the expected continuation of cash flow improvements we will look for additional opportunities to pay down debt early, increasing the company's flexibility to execute its operating plan," Vaters added.

Orthofix is a Curacao-based medical device company.

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