Reuters logo
BRIEF-Endologix enters into $170 mln credit facility with Deerfield Management
April 4, 2017 / 10:11 PM / 6 months ago

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:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below