Biolase Technology gets $10 million revolver

By Sara Rosenberg

New York, Oct. 4 - Biolase Technology Inc. closed on a new $10 million two-year revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Comerica Bank acted as the lead bank on the deal.

Pricing on the revolver is Libor plus 250 basis points.

The facility, which closed on Sept. 28, has a one-year extension option.

Covenants include minimum effective tangible net worth, maximum leverage ratio, minimum cash amount of $6 million and minimum liquidity ratio.

Biolase is an Irvine, Calif.-based provider of laser-based systems for use primarily in dental applications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.