Wells Fargo Amends Emergent BioSolutions’ Credit Facility, Reducing Size to $200MM

Biotechnology company Emergent BioSolutions entered into a consent, waiver and seventh amended to its existing credit facility, which is made up of both a revolving credit facility and term loan, reducing the amount available under the revolving credit facility from $270 million to $200 million in stages between now and Oct. 31, according to an 8K filed with the SEC._x000D_
_x000D_
In addition to a reduction in the size of the revolver, according to the 8K, the amended agreement also increased the interest rate benchmark and set a July 31 deadline for the company to raise $85 million in equity or unsecured debt._x000D_
_x000D_
Wells Fargo is the administrative agent for the amended credit agreement, according to the 8K.