Thu 05/05/2022 10:59 AM
BVI Medical has sent out a term sheet for a second lien tranche and is planning to raise $100 million of junior debt. But there are some concerns around what the global manufacturer of eye surgery products plans to do with the cash. On a lender call last week management refused to say what the proceeds were for, but noted it may pay down some of the group’s $65 million RCF, which was $48 million drawn as of December 2021, sources told Reorg.
Since the revolver was more than 35% drawn,...
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