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CareDx prepays $15 million term loan due April 2023 from Perceptive
By Susanna Moon
Chicago, Nov. 26 – CareDx, Inc. said it prepaid its $15 million term loan due April 2023 from Perceptive Advisors on Nov. 20.
Interest was 9% plus the greater of Libor or 150 basis points, with an interest-only period of three years, according to an announcement.
The company said it paid Perceptive a prepayment premium and an exit fee.
The loan was obtained on April 13.
As reported, CareDx entered into a credit agreement on April 17 with Perceptive Credit Holdings II, LP as a lender and administrative agent for an initial term loan of $15 million.
A second tranche of $10 million is available at the company’s option over the next 12 months.
Proceeds from the initial tranche A term loan were to be used for general corporate purposes and for the repayment of the company’s outstanding debt with FastPartner AB, Mohammed Al Amoudi and Danske Bank A/S, as well as for general corporate purposes.
CareDx is a Brisbane, Calif.-based molecular diagnostics company focused on the development of solutions for transplant recipients.
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