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Article: IsoTis Closes on $20 Million Credit Facility With Merrill Lynch Capital & Silicon Valley Bank.
- Article from:
- PR Newswire Europe
- Article date:
- May 30, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IRVINE, California, May 30 /PRNewswire/ -- IsoTis, Inc. (NASDAQ: ISOT), the orthobiologics company, today announced it has secured a $20 Million credit facility with Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc., and Silicon Valley Bank.
The three-year $20 million credit facility has two components: a $10 million term loan and a $10 million revolving line of credit. This credit facility expands on and replaces the $5 million credit facility IsoTis closed on in June 2006 with Silicon Valley Bank. The $10 million term loan will be repaid in equal monthly installments over 30 months, beginning on January 1, 2008. The Company ...