DexCom draws $75 million revolving loan at 3.19% for six months

By Susanna Moon

Chicago, March 6 – DexCom, Inc. drew $75 million principal amount under its existing $200 million revolving credit facility last Friday to boost its cash position, according to an 8-K filing with the Securities and Exchange Commission.

The company made a commitment on Feb. 28 to draw from the credit facility dated June 17, 2016 with JPMorgan Chase Bank, NA as administrative agent, and including Bank of America, Silicon Valley Bank and Union Bank.

Proceeds will be used to fund the company’s near-term capital expenditures and working capital requirements and for general corporate purposes.

Interest on the revolving loan will be Libor plus 175 basis points, with the rate at 3.19% for the selected interest period.

The term of the borrowing is six months, and the total interest for that period is about $1.2 million.

After the drawdown, there is $125 million available under the credit agreement.

DexCom is a San Diego-based marketer of continuous glucose-monitoring systems.

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