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Gen-Probe Extends Maturity Date on Credit Facility

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Gen-Probe has extended the maturity date on its $250 million credit agreement to Feb. 25, 2011, according to a filing yesterday with the US Securities and Exchange Commission.

The molecular diagnostics firm initially entered into the credit facility on Feb. 27, 2009, under which it was eligible to borrow $180 million. A month later, it increased the amount it was entitled to borrow from time to time up to $250 million.

In the filing this week, Gen-Probe said that there is currently $240 million of borrowings outstanding under the credit facility.