Orthofix plans to prepay $140 million of debt under credit agreement

By Ashley Montgomery

Kansas City, Kan., April 24 - Orthofix International NV intends to use the proceeds from its sale of Breg, Inc. to repay outstanding debt, according to a news release.

The company said its credit agreement requires the prepayment.

Orthofix said that Water Street Healthcare Partners will acquire its sports medicine business unit, which operates as Breg, for $157.5 million in cash. Net proceeds of about $140 million will be used for the prepayment of debt.

Orthofix is a Curacao, Netherlands Antilles-based medical device company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.