Myriad Genetics (MYGN) has closed a five-year senior secured term loan credit facility providing up to $200 million of capital from OrbiMed, a leading global healthcare investment firm. The facility includes $125 million of funded capital with an option to borrow up to an additional $75 million until June 30, 2027. This facility matures on July 31, 2030, and bears interest at a rate based upon the one-month secured overnight financing rate plus 6.50% per year, subject to a SOFR floor of 2.50% per year. The new credit facility with OrbiMed replaces Myriad’s previous ABL facility. The credit facility is secured by substantially all the assets of Myriad Genetics and its subsidiaries.
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