NuVasive draws on revolver to repay $450 million 1% convertibles

By William Gullotti

Buffalo, N.Y., May 26 – NuVasive Inc. drew $350 million from its $550 million secured revolver with Bank of America, NA as agent to help fund the redemption of its $450 million 1% convertible notes due June 1, 2023, according to an 8-K filing with the Securities and Exchange Commission.

The company expects to have $200 million of remaining borrowing capacity under the revolver after the repayment.

San Diego-based NuVasive is a medical device company focused on developing products for minimally disruptive surgical treatments for the spine.

© 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.