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Myriad Inks $300M Credit Agreement

NEW YORK (GenomeWeb) – Myriad Genetics reported in an 8-K filing with the US Securities and Exchange Commission today that it has entered into a credit agreement for a principal amount of $300 million.

The revolving credit facility includes $10 million sublimits for swingline loans and letters of credit. Myriad borrowed $205 million in revolving loans from the credit facility, which matures on December 23, 2021.

According to the SEC document, the proceeds were used to refinance Myriad's obligations under a loan agreement inked on August 31, and pay related fees. The proceeds were also used as working capital and for "general corporate purposes."

JP Morgan Chase is serving as administrative and collateral agent; Wells Fargo Bank, National Association, is serving as syndication agent; and U.S. Bank, PNC Bank, Fifth Third Bank, Zions First National Bank, and Silicon Valley Bank, are co-documentation agents. 

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