GE Capital is Agent for $55 Million in Credit Facilities for eBioscience, Inc.
BETHESDA, Md.--11 February 2011-- GE Capital, Healthcare Financial Services announced today that it is agent and a lender for $55 million in senior secured credit facilities for eBioscience, Inc. The credit facilities will be used to finance the companys repurchase of certain shares from early investors, refinance existing debt, and provide growth capital. The financing includes a $45 million term loan and a $10 million revolving line of credit. GE Capital Markets served as sole lead arranger and bookrunner.
Based in San Diego, CA, eBioscience, Inc. is a manufacturer and distributor of reagents, key substances used in pharmaceutical research to detect, measure, and examine other substances in chemical and biological reactions. The companys mission is to provide innovative, high-quality reagents to researchers worldwide and empower the process of scientific discovery in the areas of immunology and oncology.
"GE Capitals Healthcare Financial Services business has been a supportive financing resource," said Don Tartre, chief executive officer of eBioscience. GEs pharma team has demonstrated a keen understanding of our business, and GE certainly provides the expertise and financial capacity to support our growth capital needs for years to come.
This financing enables eBioscience to repurchase stock, refinance existing indebtedness and positions the company for growth. said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services corporate finance group. Our products, expertise in the healthcare industry and financing experience uniquely enable us to help customers meet their growth objectives.
About GE Capital, Healthcare Financial Services
With over $17 billion invested, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 30 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare. Funding may be provided through GE Capital, Healthcare Financial Services affiliate, GE Capital Financial Inc., Member, FDIC.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the worlds toughest challenges. Visit ge.com.