Portola Pharmaceuticals draws final $62.5 million term loan tranche

By Wendy Van Sickle

Columbus, Ohio, Nov. 21 – Portola Pharmaceuticals, Inc. drew down the final $62.5 million tranche under its credit agreement with HCR Collateral Management, LLC as administrative agent on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement provides for up to a $125 million term loan facility, $62.5 million of which was borrowed at closing on Feb. 28, 2019. No borrowing capacity remains under the credit facility.

Based in South San Francisco, Calif., Portola is a privately held biotechnology company focused on cardiovascular disease.

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