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credit facility

The firm did not disclose how it intended to use the $8 million, but said that it would provide temporary working capital.

The company's new $14 million facility refinances its original $6 million loan, and adds capital for new growth.

The company said the draw down is to provide working capital to use on a temporary basis.

The London-based firm plans to fund development and clinical trials for its point-of-care diagnostic test for serious blood infections.

The company replaced an existing $2.5 billion facility with an amended and restated $4 billion facility and entered into a new $7 billion facility.

The firm used about $1.68 billion of proceeds from the new term loans to repay existing secured credit facilities and transaction expenses. 

The aggregate commitments for a credit facility reached in September was previously $400 million.

Along with the increase in the amount of the credit facility, its maturity was extended by more than two years to April 1, 2019. 

The company's CFO said the agreement reduces Hologic's interest expense, increases its financial flexibility, and extends its debt maturities.

The company has amended and restated a credit facility and a secured revolving note to increase the available borrowing amount for each to up to $120 million.

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