STRATA Sciences has completed refinancing of its existing debt with a lower interest one-year cash-secured loan facility with Israel Discount Bank of New York.
The new loan, at a fixed interest rate of 2.79%, significantly lowers the company’s interest expense for 2020. The proceeds of the new loan facility were used to repay the company’s outstanding term note with MidCap Financial.
“This refinancing and new commercial bank loan facility is a testament to our financial strength and ability to generate cash flow. With it, we are able to significantly lower our cost of capital and increase our operational flexibility. Additionally, this refinancing allows the company to be opportunistic in its strategic plans,” said Dr. Dolev Rafaeli, the company’s president and CEO._x000D_
Horsham, PA-based-STRATA Skin Sciences is a medical technology company in Dermatology and Plastic Surgery dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions.
