BOSTON–(BUSINESS WIRE)–Orthofix International N.V. (NASDAQ: OFIX) (the Company) announced today it made a $5 million debt prepayment in advance of the scheduled maturity, permanently reducing its current credit facility by that amount.
Orthofix Executive Vice President and Chief Financial Officer Bob Vaters stated, “Consistent with our focus on deleveraging the balance sheet this was the third debt repayment we have made ahead of scheduled maturities within the last four months. It demonstrates not only our desire to continue reducing our outstanding debt, but our improved cash generation over the last few months. With the expected continuation of cash flow improvements we will look for additional opportunities to pay down debt early, increasing the Company’s flexibility to execute its operating plan.”
