Intersect ENT, a global ear, nose and throat medical technology company, entered into a $60 million secured term loan agreement with a fund managed by Deerfield Management Company.
The term loan is structured in three $20 million tranches to provide funding for Intersect ENT’s remaining Fiagon acquisition payment over the next three years. The term loan has coupon of 7.5% and a five-year maturity. Intersect ENT intends to use the remaining proceeds from this financing for general corporate purposes.
“With this financing we are well-positioned to invest in our future while establishing Intersect ENT as a predictable double-digit grower. We appreciate the continued support of Deerfield in helping us drive long-term growth,” Thomas A. West, president and CEO of Intersect ENT, said.
