PNC Bank provided a new five-year, $35 million debt facility to Luna Innovations, a provider of advanced fiber optic-based technology. The facility includes a $20 million term loan facility and a $15 million revolving credit facility.
The term loan has an interest rate of SOFR plus 10 basis points, in addition to a margin ranging from 175 to 250 basis points based on a net leverage ratio. The revolving credit facility has an interest rate of SOFR plus 10 basis points, in addition to a margin ranging from 175 to 250 basis points based on a net leverage ratio.
“We are pleased to again work with and extend our relationship with PNC,” Scott Graeff, president and CEO of Luna Innovations, said. “We appreciate that PNC continues to demonstrate their support and confidence in Luna. Access to this additional capital gives us the financial flexibility to invest in future growth opportunities.”
