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Myriad Genetics Enters $90M Asset-Based Credit Agreement

NEW YORK – Myriad Genetics said on Thursday that it has entered into a $90 million asset-based credit facility agreement with JP Morgan Chase, Wells Fargo, and Bank of America.

The loan, called an ABL facility, is secured by substantially all the assets of Myriad and its subsidiaries and includes an option to increase the maximum principal amount by up to $25 million, for a total of $115 million.

JP Morgan Chase serves as the agreement's administrative agent and issuing bank. Myriad and its subsidiaries will use the proceeds from the loan for working capital needs and general corporate purposes.

"This new ABL facility will provide additional financial flexibility to support Myriad Genetics' growth strategy," Myriad CEO and President Paul Diaz said in a statement.

The ABL facility matures on June 30, 2026, and replaces a previous credit facility that matured last week.

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