05:05 PM EDT, 08/21/2025 (MT Newswires) -- QuidelOrtho ( QDEL ) refinanced its existing debt with a new $3.4 billion credit package, including two term loans and a revolving credit facility, while adding a $100 million undrawn loan.

The new credit package includes a $1.15 billion five-year Term Loan A replacing the 2022 facility, the $100 million delayed draw Term Loan A, a $1.45 billion seven-year Term Loan B and a $700 million revolving credit facility that replaces the prior revolver, the company said Thursday in a statement.

"By improving the debt covenant terms and reducing the required amortization over the life of the loan, we will have greater financial flexibility and options to fund the continued growth of our business, while also improving our cash flow," Chief Financial Officer Joseph Busky said in the statement.