Error: Your upload path is not valid or does not exist: /nas/content/live/origintdr/wp-content/blogs.dir/1/files Emergent BioSolutions can borrow up to $300M in new credit facility - Maryland Daily Record

Emergent BioSolutions can borrow up to $300M in new credit facility

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Emergent BioSolutions can borrow up to $300M in new credit facility

Emergent BioSolutions can borrow up to $300M in new credit facility

(File photo)
(File photo)

, a life sciences company in , now has more borrowing power, which it says it can use for strategic acquisitions.

The company completed a new five-year, $200 million syndicated senior secured credit facility, which replaces its prior $100 million credit facility. The older facility was set to expire in 2018.

The new facility also has a feature that lets it expand to $300 million under certain conditions.

Emergent has previously announced the acquisitions of an anthrax treatment business from GSK and a smallpox business from Sanofi. The company said it didn’t borrow anything from the facility for those acquisitions, nor does it plan to.

Wells Fargo Securities LLC was lead arranger for the new credit facility. JPMorgan Chase Bank N.A., PNC Capital Markets LLC and RBC Capital Markets were joint lead arrangers and joint book runners.

Tags: emergent biosolutions inc., gaithersburg, Montgomery County

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