Orthofix repays $5 million of bank debt

By Sara Rosenberg

New York, March 24 - Orthofix International NV prepaid $5 million of its credit facility, permanently reducing the size by that amount.

"Consistent with our focus on deleveraging the balance sheet, this was the third debt repayment we have made ahead of scheduled maturities within the last four months. It demonstrates not only our desire to continue reducing our outstanding debt, but our improved cash generation over the last few months," said Bob Vaters, executive vice president and chief financial officer, in a news 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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