Quidel amends facility, ups basket exception for debt to $230 million

By Tali Rackner

Norfolk, Va., Dec. 5 – Quidel Corp. entered into a second amendment to its credit agreement on Dec. 1 to increase the basket exception for allowed unsecured debt to $230 million from $100 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also allows the company to issue unsecured debt convertible into its equity interests, cash or a combination of the two.

Bank of America, NA is the administrative agent, swingline lender and letter-of-credit issuer; U.S. Bank NA is the syndication agent and a lender; and Compass Bank is the documentation agent and a lender.

Quidel is a San Diego-based provider of diagnostic testing solutions and cellular-based virology assays.

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