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BRIEF-Endologix enters into $170 mln credit facility with Deerfield Management
2017年4月4日 / 晚上10点13分 / 8 个月前

BRIEF-Endologix enters into $170 mln credit facility with Deerfield Management

April 4 (Reuters) - Endologix Inc

* Endologix enters into $170 million credit facility with Deerfield Management

* Endologix Inc - Deerfield provided Endologix with $120 million of gross proceeds in funding

* Endologix Inc - Endologix has agreed to pay Deerfield a yield enhancement payment equal to 2.25% of principal amount at time of funding

* Endologix Inc - Outstanding principal accrues interest until maturity on April 2, 2023 at a rate of 6.87% per annum

* Endologix - Under terms of revolving line of credit, endologix may borrow up to lesser of $50 million or its applicable borrowing base from time to time

* Endologix Inc - Any outstanding principal under revolving line of credit will accrue interest at a rate equal to libor rate plus 4.60%

* Endologix - To use about $52.5 million of proceeds from term loan to repurchase $53.1 million principal amount of outstanding 2.25% convertible senior notes due 2018

* Endologix - To enter into unwind agreement with Bank of America NA to unwind portion of capped call transactions in respect of notes to be repurchased

* Endologix Inc - Revolving line of credit will replace Endologix’s $50 million asset-based revolving line of credit with Midcap Financial Trust Source text for Eikon: Further company coverage:

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