Invacare announces additional draw of term loans
By HME News Staff
Updated 10:32 AM CDT, Wed October 5, 2022
ELYRIA, Ohio – Invacare has announced the consummation of additional draws of an aggregate of $18.5 million of term loans pursuant to its credit agreement with certain funds managed by Highbridge Capital Management. Additional commitments of $19.5 million remain available under the Amended Highbridge Loan Agreement, subject to the satisfaction of certain conditions set forth therein. Concurrently with the additional draws, the company consummated the additional closings under the exchange agreements previously entered into with Highbridge and exchanged $13.825 million in aggregate principal amount of 4.25% convertible senior notes due 2026 for (i) $5.186 million in aggregate principal amount of additional 5.68% convertible senior secured notes due 2026, Tranche I, and (ii) $5.183 million in aggregate principal amount of additional 5.68% convertible senior secured notes due 2026, Tranche II.
Comments