Conmed Corporation (NYSE:CNMD) announced Monday that it has entered into a First Omnibus Amendment and Increased Facility Activation Notice to amend its existing credit agreement. According to a statement released through a Securities and Exchange Commission filing, the amendment provides Conmed and its subsidiary, Linvatec Nederland B.V., with a new $450 million senior secured delayed draw term loan facility, known as the Term A-2 Loan Facility. The medical device company currently carries total debt of approximately $861 million with a debt-to-equity ratio of 0.85, while maintaining a healthy current ratio of 2.29.
The facility, arranged with several banks and financial institutions and administered by JPMorgan Chase Bank, N.A., is available to be drawn in a single transaction on or before June 14, 2026. The loan matures on June 10, 2030, aligning with the maturity date of the company’s existing revolving and term loan facilities.
Proceeds from the Term A-2 Loan Facility are designated to repurchase a portion of Conmed’s outstanding 2.25% Convertible Senior Notes due 2026, as well as to cover related fees and expenses.
Interest rates for the new facility will be based on an adjusted term secured overnight financing rate (SOFR) plus a margin ranging from 1.125% to 2.25% per annum, or a base rate plus a margin from 0.125% to 1.25% per annum, depending on Conmed’s consolidated senior secured leverage ratio. Until the first adjustment date following the fiscal quarter ending September 30, 2026, the margins will be set at 1.75% per annum for SOFR borrowings and 0.75% per annum for base rate borrowings.
Obligations under the Term A-2 Loan Facility are secured by the same assets and rights that back the company’s other obligations under its credit agreement, and are guaranteed by the same Conmed subsidiaries.
This information is based on a press release statement included in a recent SEC filing.
In other recent news, CONMED Corporation reported first-quarter 2026 earnings that exceeded analysts’ expectations. The company achieved an adjusted earnings per share of $0.89, surpassing the forecasted $0.82. Additionally, CONMED’s revenue reached $317 million, slightly above the anticipated $310.59 million. These results indicate stronger-than-expected financial performance for the quarter. In other developments, CONMED announced the appointment of Celine Martin and Jeff Mirviss to its board of directors, effective July 1, 2026. Martin will serve on the audit and strategy committees, while Mirviss will join the compensation and corporate governance and nominating committees. The board will expand from seven to nine directors with these additions.
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