Wednesday, April 5, 2017

Endologix Gets $170M Credit Facility

Irvine-based Endologix, a publicly traded developer of treatments for aortic disorders, has received a $170M credit facility, the company said late Tuesday. Endologix said the credit facility deal was with Deerfield Management, who has agreed to provide the company with up to $170M in funding. The funding is split between a $120M, six year secured term loan and a $50M, three year secured asset-based revolving line of credit. Endologix said it agreed to pay a "yield enhancement payment" equal to 2.25% of the principal amount on funding, and that the principal will accrue interest at 6.87% a year, payable quarterly.