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GenMark Borrows $10M Against Debt Facility

NEW YORK (GenomeWeb) – GenMark Diagnostics said in a regulatory document today that it borrowed $10 million against a $40 million debt facility. 

The $10 million was borrowed under an initial term loan pursuant to a debt facility created in January and led by GE Capital's Healthcare Financial Services business. The credit facility comprises a multi-tranched $35 million venture loan facility and a $5 million asset-based revolving credit facility.

GenMark said today in a document filed with the US Securities and Exchange Commission that it is required to pay only the interest on the loan until March 1, 2017, after which it will pay monthly installments of principal and interest until the loan is fully repaid by Jan. 12, 2019.