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RTI Surgical lowers revolving credit amount, increases cap on leverage
By Tali Rackner
Norfolk, Va., Nov. 8 – RTI Surgical, Inc. entered into a fifth amendment to its second amended and restated loan agreement on Monday to decrease the maximum revolving credit amount to $42.5 million from $45 million, according to an 8-K filing with the Securities and Exchange Commission.
The amendment also provides for an increase in the company’s leverage to EBITDA ratio to 3.25 times through March 31 and to 3 times after March 31, from 2.5 times previously.
TD Bank NA is the administrative agent.
The Alachua, Fla., company prepares human donated tissue and bovine tissue for transplantation.
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