Myriad ups revolver commitments to $350 million for Counsyl purchase

By Susanna Moon

Chicago, Aug. 1 – Myriad Genetics, Inc. increased the commitments to $350 million under its revolving credit facility in connection with its acquisition of Counsyl, Inc. on Tuesday.

The company amended its credit agreement dated Dec. 23, 2016 with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The facility matures on July 31, 2023.

Proceeds were used to finance the acquisition of Counsyl and for working capital and other general corporate purposes.

The facility is secured by a first-lien security interest in substantially all of the assets of Myriad and some of its domestic subsidiaries, and each such domestic subsidiary of Myriad has guaranteed the repayment of the facility.

Myriad is a Salt Lake City-based personalized medicine company.

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