Myriad Genetics, a provider of genetic testing and precision medicine, established a $90 million asset-based credit facility with JPMorgan Chase Bank as administrative agent and issuing bank, with the remaining banks consisting of Wells Fargo Bank and Bank of America. The ABL facility includes an option to increase the maximum principal amount by up to $25 million for a total of $115 million.
“This new ABL facility will provide additional financial flexibility to support Myriad Genetics’ growth strategy,” Paul Diaz, president and CEO of Myriad, said.
The ABL facility replaces the company’s previous credit facility and matures on June 30, 2026. The ABL facility is secured by substantially all of the assets of Myriad Genetics and its subsidiaries.
