CONMED Corp 8-K

What Happened
CONMED Corporation announced on May 27, 2026 that it entered into a First Omnibus Amendment to its June 10, 2025 credit agreement to add a $450 million incremental senior secured delayed-draw Term A-2 loan facility. The Term A-2 facility is available for a single drawing on or prior to June 14, 2026, and matures on June 10, 2030. Proceeds are to be used to repurchase a portion of CONMED’s outstanding 2.25% Convertible Senior Notes due 2026 and to pay related fees and expenses. The amendment was made among CONMED, its subsidiary Linvatec Nederland B.V., certain other subsidiaries as guarantors, several banks and lenders, and JPMorgan Chase Bank, N.A. as administrative agent.

Key Details

• $450 million incremental delayed-draw Term A-2 loan available in a single draw through June 14, 2026.
• Maturity date: June 10, 2030 (same as existing revolving and term loans).
• Interest margins: adjusted term SOFR + 1.125% to 2.25% or base rate + 0.125% to 1.25%, based on CONMED’s consolidated senior secured leverage ratio. Initial margins prior to the first adjustment (quarter ending Sept 30, 2026) are 1.75% for SOFR borrowings or 0.75% for base rate borrowings.
• Obligations under the Term A-2 Facility are secured and guaranteed by the same assets and CONMED subsidiaries that secure and guarantee the existing Credit Agreement.

Why It Matters
This amendment creates a new $450M secured loan commitment for CONMED, increasing available liquidity specifically to repurchase part of its convertible notes due in 2026. For investors, that means the company has arranged committed financing to address near-term convertible debt obligations and related costs. The facility carries multi-year maturity (2030) and is secured/guaranteed alongside CONMED’s existing credit facilities, which may affect the company’s secured leverage and priority of claims on assets.