Invacare Announces Further Draw Of Term Loans

ELYRIA, Ohio – Invacare has announced the consummation of further draws of an aggregate of $18.5 million of term loans pursuant to its credit score settlement with certain funds managed by Highbridge Capital Management. Additional commitments of $19.5 million remain available beneath the Amended Highbridge Mortgage Settlement, subject to the satisfaction of certain conditions set forth therein. Concurrently with the additional attracts, the company consummated the additional closings below the exchange agreements previously entered into with Highbridge and exchanged $13.825 million in aggregate principal quantity of 4.25% convertible senior notes due 2026 for (i) $5.186 million in aggregate principal amount of further 5.68% convertible senior secured notes due 2026, Tranche I, and (ii) $5.183 million in aggregate principal quantity of extra 5.68% convertible senior secured notes due 2026, Tranche II.

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